Valley Wealth Managers Inc. Raises Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Valley Wealth Managers Inc. increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 78.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,155 shares of the semiconductor company’s stock after acquiring an additional 945 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Synopsys were worth $1,091,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors lifted its position in shares of Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after acquiring an additional 818,485 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Synopsys by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after purchasing an additional 1,514,449 shares during the period. GQG Partners LLC grew its holdings in Synopsys by 91.6% during 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 buying an additional 1,001,371 shares in the last quarter. Swedbank AB boosted its position in shares of Synopsys by 1.4% during the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after acquiring an additional 25,999 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after acquiring an additional 335,993 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on SNPS shares. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Needham & Company LLC restated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a report on Tuesday, October 22nd. Loop Capital started coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. Mizuho began coverage on Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys presently has an average rating of “Buy” and an average target price of $649.82.

Synopsys Price Performance

Synopsys stock opened at $520.75 on Friday. The firm has a 50-day moving average of $514.14 and a two-hundred day moving average of $545.25. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The stock has a market cap of $79.99 billion, a price-to-earnings ratio of 54.02, a price-to-earnings-growth ratio of 3.40 and a beta of 1.08.

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 the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business’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 business earned $2.17 EPS. Research analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current year.

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.