CWA Asset Management Group LLC Invests $1.14 Million in Synopsys, Inc. (NASDAQ:SNPS)

CWA Asset Management Group LLC bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,248 shares of the semiconductor company’s stock, valued at approximately $1,138,000.

Other hedge funds have also made changes to their positions in the company. Andina Capital Management LLC raised its stake in shares of Synopsys by 2.8% in the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 18 shares in the last quarter. Cascade Financial Partners LLC lifted its stake in Synopsys by 4.9% during the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 18 shares during the period. Tocqueville Asset Management L.P. grew its stake in shares of Synopsys by 0.9% in the 1st quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock valued at $1,220,000 after purchasing an additional 20 shares during the period. Hazlett Burt & Watson Inc. raised its holdings in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares in the last quarter. Finally, Hilltop National Bank lifted its position in shares of Synopsys by 6.0% during the 2nd quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock worth $220,000 after buying an additional 21 shares during the period. Institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Berenberg Bank initiated coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. Finally, Robert W. Baird increased their price target on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys has an average rating of “Buy” and an average target price of $647.30.

Synopsys Stock Performance

NASDAQ SNPS opened at $561.55 on Monday. The stock has a market capitalization of $86.26 billion, a P/E ratio of 58.25, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The stock has a fifty day moving average of $507.77 and a 200-day moving average of $544.93.

Synopsys (NASDAQ:SNPS) last announced 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. 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 analyst estimates of $1.52 billion. During the same period last year, the company earned $2.17 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. Equities research analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction on Friday, August 23rd. The shares were 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 of the company’s stock, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is currently owned by company insiders.

About Synopsys

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.