Silver Oak Securities Incorporated Buys Shares of 1,393 Synopsys, Inc. (NASDAQ:SNPS)

Silver Oak Securities Incorporated bought a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,393 shares of the semiconductor company’s stock, valued at approximately $715,000.

A number of other hedge funds have also recently made changes to their positions in SNPS. Andina Capital Management LLC raised its stake in Synopsys by 2.8% during the second 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 during the last quarter. Cascade Financial Partners LLC boosted its stake in Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 18 shares in the last quarter. Monument Capital Management grew its position in Synopsys by 1.1% during the 1st quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock valued at $1,074,000 after purchasing an additional 20 shares during the last quarter. Tocqueville Asset Management L.P. increased its stake in Synopsys by 0.9% during 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 in the last quarter. Finally, Hilltop National Bank raised its holdings in Synopsys by 6.0% in the second 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 last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Price Performance

SNPS opened at $501.58 on Friday. The firm has a market cap of $77.05 billion, a P/E ratio of 52.03, a PEG ratio of 3.44 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $448.91 and a 1-year high of $629.38. The company has a 50 day simple moving average of $508.43 and a two-hundred day simple moving average of $545.36.

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

Analyst Upgrades and Downgrades

SNPS has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird upped their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Piper Sandler decreased their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Berenberg Bank initiated coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $643.00.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by corporate 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.