There Is Clear Momentum For Synopsys Inc. (NASDAQ: SNPS)

The Vanguard Group, Inc. has recently announced that it has increased stake in Synopsys Inc. (NASDAQ:SNPS) by 0.21%. After grabbing 12.66 million shares, the institutional investor is now in possession of 26985.0 shares of the Technology Company. The new investment brought the stake of investor firm to 8.31% having worth around $4.7 billion. Moreover, SSgA Funds Management, Inc. increased its share by 0.17 million to have a control over 6.5 million shares. And T. Rowe Price Associates, Inc. raised its holdings to 0.25 million shares by acquiring 5.64 million shares or 3.70% of the stake.

Synopsys Inc. (SNPS) concluded trading on 05/25/23 at a closing price of $434.20, with 2.55 million shares of worth about $1.11 billion changed hands on the day. Half year performance of the stock remained positive as price took a surge of 32.80% during that period and on Thursday the price saw a gain of about 9.82%. Currently the company’s common shares owned by public are about 152.40M shares, out of which, 151.53M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 15 analysts are covering the SNPS stock and their offered price forecasts bring an average price target of $437.23. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $470.00 and could fall to a lowest price of $410.00. The stock’s current price level is -0.19% below of average price target set by the analysts, while a dip to estimated low would result in loss of -5.9% for the stock. However, touching the estimated high of $470.00 would mean a gain of 7.62% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 124 times over the past 12 months. They bought 224,635 shares in 68 of the transactions. In 56 selling transactions, insiders dumped 224,234 shares.

Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Government Pension Fund – Global are the top 3 mutual funds which are holding stakes in Synopsys Inc. Vanguard Total Stock Market ETF is currently holding 4.73 million shares of worth totaling $1.76 billion. The company recently came buying 16614.0 shares which brought its stake up to 3.11% of the company’s outstanding shares. Vanguard 500 Index Fund bought 19167.0 shares, after which its hold over company’s outstanding shares expand to 2.35%, leaving 3.58 million shares with the mutual fund that have a worth of about $1.33 billion. Government Pension Fund – Global, after buying 2.76 million shares, have now control over 1.82% of the stake in the company. It holds 1.39 million shares of worth $1.03 billion.

Synopsys Inc. (NASDAQ: SNPS) started trading at $410.03, above $14.64 from concluding price of the previous day. Stock saw a price change of 5.98% in past 5 days and over the past one month there was a price change of 18.93%. Year-to-date (YTD), SNPS shares are showing a performance of 35.99% which increased to 46.51% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $267.00 but also hit the highest price of $418.40 during that period. The average intraday trading volume for Synopsys Inc. shares is 774.66K. The stock is currently trading 14.78% above its 20-day simple moving average (SMA20), while that difference is up 15.09% for SMA50 and it goes to 26.21% higher than SMA200.

The Vanguard Group, Inc. acquired 12.66 million shares of Synopsys Inc. having value of about $4.7 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 26985.0 shares in the company valued at close to $11716887.0, or have control over 0.21% stake in the company. Synopsys Inc. (NASDAQ: SNPS) currently have 152.40M outstanding shares and institutions hold larger chunk of about 92.70% of that. Holding of mutual funds in the company is about 31.76% while other institutional holders and individual stake holders have control over 58.32% and 0.81% of the stake respectively.

The stock has a current market capitalization of $66.32B and its 3Y-monthly beta is at 1.16. PE ratio of stock for trailing 12 months is 73.27, while it has posted earnings per share of $5.93 in the same period. Its PEG reads 4.30 and has Quick Ratio of 1.00 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SNPS, volatility over the week remained 3.32% while standing at 2.29% over the month.

Analysts are in expectations that Synopsys Inc. (SNPS) stock would likely to be making an EPS of $2.74 in the current quarter, while forecast for next quarter EPS is $2.94 and it is $12.29 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.72 which is $2.77 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.1 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 30.70% while it is estimated to increase by 13.20% in next year. EPS is likely to shrink at an annualized rate of 17.02% for next 5-years, compared to annual growth of 48.10% made by the stock over the past 5-years.

Analysts at 15 brokerage firms have issued recommendations for the Synopsys Inc. (SNPS)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.60. Out of those 15 Wall Street analysts, 12 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.