Anthracite Investment Company Inc. Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Anthracite Investment Company Inc. purchased a new position in Synopsys, Inc. (NASDAQ:SNPS) in the third quarter, HoldingsChannel reports. The firm purchased 5,000 shares of the semiconductor company’s stock, valued at approximately $2,532,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Andina Capital Management LLC boosted its position in shares of Synopsys by 2.8% during the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after acquiring an additional 18 shares during the last quarter. Cascade Financial Partners LLC raised its holdings in shares of Synopsys by 4.9% during the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 18 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Hilltop National Bank lifted its position in Synopsys by 6.0% during the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after purchasing an additional 21 shares during the last quarter. Finally, Green Alpha Advisors LLC increased its holdings in shares of Synopsys by 1.7% in the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after buying an additional 22 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

NASDAQ:SNPS opened at $534.02 on Wednesday. The firm has a 50-day simple moving average of $516.71 and a 200-day simple moving average of $545.49. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The firm has a market cap of $82.03 billion, a P/E ratio of 55.40, a P/E/G ratio of 3.18 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. Synopsys’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.17 earnings per share. On average, research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. This represents a 14.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Robert W. Baird upped their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Piper Sandler decreased their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Mizuho assumed coverage on Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective on the stock. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $649.82.

Synopsys Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.