Wolff Wiese Magana LLC Boosts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Wolff Wiese Magana LLC increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 19.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 976 shares of the semiconductor company’s stock after purchasing an additional 158 shares during the period. Wolff Wiese Magana LLC’s holdings in Synopsys were worth $558,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Synopsys in the 4th quarter valued at about $28,000. Jones Financial Companies Lllp lifted its holdings in shares of Synopsys by 233.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. WD Rutherford LLC purchased a new stake in shares of Synopsys in the 1st quarter valued at about $40,000. Rise Advisors LLC purchased a new stake in shares of Synopsys in the 1st quarter valued at about $46,000. Finally, Quarry LP lifted its holdings in shares of Synopsys by 63.1% in the 4th quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 41 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. KeyCorp upped their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $624.36.

Synopsys Price Performance

NASDAQ SNPS traded up $0.48 on Monday, hitting $595.54. 178,894 shares of the company’s stock were exchanged, compared to its average volume of 1,093,491. The firm’s 50-day moving average price is $569.90 and its two-hundred day moving average price is $556.31. Synopsys, Inc. has a fifty-two week low of $418.51 and a fifty-two week high of $629.38. The firm has a market cap of $91.25 billion, a price-to-earnings ratio of 64.36, a P/E/G ratio of 3.84 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.03 by ($0.03). The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.76 EPS. On average, research analysts predict that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $36,440,228.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $36,440,228.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Geus Aart De sold 8,158 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $602.59, for a total value of $4,915,929.22. Following the sale, the insider now owns 106,983 shares in the company, valued at approximately $64,466,885.97. The disclosure for this sale can be found here. Insiders have sold a total of 35,658 shares of company stock worth $20,970,824 in the last quarter. Company insiders own 0.66% of the company’s stock.

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.