HWG Holdings LP Takes $9.01 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

HWG Holdings LP purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 15,135 shares of the semiconductor company’s stock, valued at approximately $9,006,000. Synopsys makes up about 3.3% of HWG Holdings LP’s investment portfolio, making the stock its 10th biggest position.

Other hedge funds also recently made changes to their positions in the company. Kingsview Wealth Management LLC acquired a new position in shares of Synopsys during the first quarter valued at approximately $239,000. Concurrent Investment Advisors LLC acquired a new position in shares of Synopsys during the first quarter valued at approximately $218,000. Bridgefront Capital LLC acquired a new position in shares of Synopsys during the fourth quarter valued at approximately $951,000. Vanguard Group Inc. increased its stake in shares of Synopsys by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after acquiring an additional 203,601 shares during the period. Finally, Axxcess Wealth Management LLC grew its position in Synopsys by 44.9% in the first quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock worth $2,303,000 after buying an additional 1,249 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 0.4 %

SNPS stock opened at $513.31 on Monday. Synopsys, Inc. has a 1 year low of $445.07 and a 1 year high of $629.38. The company has a fifty day simple moving average of $518.53 and a 200 day simple moving average of $554.36. The firm has a market cap of $78.65 billion, a PE ratio of 55.79, a PEG ratio of 3.34 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS 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 company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the business posted $2.17 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on SNPS. Robert W. Baird lifted their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. KeyCorp lifted their price target on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Finally, Piper Sandler restated an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $638.00.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction dated Friday, August 23rd. The shares were 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 owns 62,568 shares in the company, valued at $34,655,789.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Geus Aart De sold 493 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $620.60, for a total value of $305,955.80. Following the completion of the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,424 shares of company stock valued at $33,625,711. 0.66% of the stock is owned by company insiders.

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.