467 Shares in Synopsys, Inc. (NASDAQ:SNPS) Purchased by Western Wealth Management LLC

Western Wealth Management LLC purchased a new position in Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 467 shares of the semiconductor company’s stock, valued at approximately $240,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Xponance Inc. grew its stake in Synopsys by 0.5% during the 4th quarter. Xponance Inc. now owns 39,718 shares of the semiconductor company’s stock valued at $20,451,000 after acquiring an additional 214 shares in the last quarter. Tilt Investment Management Holdings PBC purchased a new position in Synopsys during the 4th quarter valued at about $317,000. Dock Street Asset Management Inc. grew its stake in Synopsys by 0.4% during the 4th quarter. Dock Street Asset Management Inc. now owns 22,154 shares of the semiconductor company’s stock valued at $11,407,000 after acquiring an additional 91 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Synopsys by 4.9% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,656 shares of the semiconductor company’s stock valued at $1,881,000 after acquiring an additional 172 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new position in Synopsys during the 4th quarter valued at about $651,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

In related news, Director Roy Vallee sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total value of $5,726,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $11,453,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the transaction, the insider now directly owns 20,000 shares in the company, valued at $11,587,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roy Vallee sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total value of $5,726,600.00. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at $11,453,200. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SNPS. Robert W. Baird lifted their target price on Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research note on Thursday, March 21st. Piper Sandler assumed coverage on Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Friday, March 22nd. Finally, StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys presently has an average rating of “Buy” and an average target price of $601.00.

Synopsys Stock Up 0.9 %

Shares of SNPS stock opened at $515.49 on Tuesday. Synopsys, Inc. has a 12 month low of $360.36 and a 12 month high of $629.38. The firm has a market cap of $78.61 billion, a PE ratio of 56.77, a price-to-earnings-growth ratio of 2.98 and a beta of 1.06. The stock has a 50 day moving average of $565.59 and a 200-day moving average of $535.24.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company earned $1.75 earnings per share. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. As a group, equities analysts predict that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Synopsys Company 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.