Metis Global Partners LLC Has $3.92 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Metis Global Partners LLC raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,745 shares of the semiconductor company’s stock after acquiring an additional 256 shares during the quarter. Metis Global Partners LLC’s holdings in Synopsys were worth $3,922,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SNPS. Swedbank AB acquired a new position in Synopsys during the first quarter valued at approximately $1,051,637,000. Price T Rowe Associates Inc. MD boosted its holdings in Synopsys by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after purchasing an additional 1,514,449 shares during the period. GQG Partners LLC grew its position in Synopsys by 91.6% in the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after purchasing an additional 1,001,371 shares during the last quarter. Sustainable Growth Advisers LP bought a new position in shares of Synopsys during the 2nd quarter worth about $572,050,000. Finally, Capital World Investors raised its position in shares of Synopsys by 12.5% during the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after buying an additional 818,485 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

SNPS opened at $548.31 on Friday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The firm has a market cap of $84.23 billion, a P/E ratio of 56.88, a price-to-earnings-growth ratio of 3.40 and a beta of 1.08. The business’s fifty day moving average is $511.56 and its 200-day moving average is $545.39.

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

Insider Activity

In other news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents a 14.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SNPS. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Piper Sandler lowered their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Mizuho assumed coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Finally, Berenberg Bank started coverage on Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price on the stock. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus 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.