Jacobs Levy Equity Management Inc. increased its stake in shares of Synopsys Inc. (NASDAQ:SNPS) by 12.3% during the third quarter, Holdings Channel reports. The fund owned 502,857 shares of the company’s stock after buying an additional 54,940 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.33% of Synopsys worth $29,845,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Creative Planning raised its stake in shares of Synopsys by 17.2% in the third quarter. Creative Planning now owns 1,884 shares of the company’s stock valued at $112,000 after buying an additional 276 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised its stake in shares of Synopsys by 43.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,963 shares of the company’s stock valued at $106,000 after buying an additional 590 shares during the last quarter. TLP Group LLC acquired a new stake in shares of Synopsys during the third quarter valued at approximately $123,000. Advisor Group Inc. acquired a new stake in shares of Synopsys during the second quarter valued at approximately $130,000. Finally, Penserra Capital Management LLC raised its stake in shares of Synopsys by 100.0% in the third quarter. Penserra Capital Management LLC now owns 2,448 shares of the company’s stock valued at $145,000 after buying an additional 1,224 shares during the last quarter. 90.36% of the stock is owned by institutional investors.
Shares of Synopsys Inc. (NASDAQ:SNPS) opened at 60.76 on Thursday. The stock has a market capitalization of $9.12 billion, a P/E ratio of 35.12 and a beta of 0.88. The stock has a 50 day moving average price of $59.67 and a 200 day moving average price of $58.35. Synopsys Inc. has a 52 week low of $39.26 and a 52 week high of $62.00.
Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, November 30th. The company reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. Synopsys had a return on equity of 11.51% and a net margin of 11.01%. The company had revenue of $633.70 million for the quarter, compared to the consensus estimate of $628.39 million. During the same quarter in the previous year, the business earned $0.67 EPS. Synopsys’s revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts expect that Synopsys Inc. will post $3.20 EPS for the current year.
Several equities research analysts recently commented on SNPS shares. DA Davidson restated a “buy” rating and set a $75.00 target price (up previously from $64.00) on shares of Synopsys in a research report on Wednesday, October 12th. Credit Suisse Group AG assumed coverage on Synopsys in a report on Wednesday, October 19th. They issued an “outperform” rating and a $68.00 price target on the stock. Needham & Company LLC increased their price target on Synopsys from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 1st. Zacks Investment Research lowered Synopsys from a “strong-buy” rating to a “hold” rating in a report on Monday, December 5th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $66.00 price target on shares of Synopsys in a report on Tuesday, November 1st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Synopsys currently has an average rating of “Buy” and a consensus target price of $66.33.
Synopsys Company Profile
Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.
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