CWA Asset Management Group LLC Buys Shares of 2,248 Synopsys, Inc. (NASDAQ:SNPS)

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB bought a new position in Synopsys during the first quarter worth about $1,051,637,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Synopsys by 39.6% during 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 in the last quarter. GQG Partners LLC grew its position in shares of Synopsys by 91.6% in the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after purchasing an additional 1,001,371 shares during the period. Sustainable Growth Advisers LP bought a new stake in Synopsys during the 2nd quarter worth approximately $572,050,000. Finally, Capital World Investors raised its holdings in Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after buying an additional 818,485 shares during the period. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Down 2.1 %

NASDAQ:SNPS opened at $561.55 on Monday. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The firm has a market capitalization of $86.26 billion, a price-to-earnings ratio of 58.25, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08. The stock’s 50 day moving average price is $507.77 and its two-hundred day moving average price is $544.93.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on SNPS. JPMorgan Chase & Co. upped 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. Robert W. Baird increased their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Mizuho initiated coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Berenberg Bank assumed coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Finally, Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $647.30.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is currently owned by corporate insiders.

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.