Wolff Wiese Magana LLC Acquires 25 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Wolff Wiese Magana LLC raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 2.3% during the third quarter, Holdings Channel reports. The institutional investor owned 1,107 shares of the semiconductor company’s stock after buying an additional 25 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Synopsys were worth $561,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Kingsview Wealth Management LLC bought a new position in Synopsys in the 1st quarter valued at about $239,000. Concurrent Investment Advisors LLC bought a new position in shares of Synopsys in the first quarter valued at approximately $218,000. Jacobs & Co. CA purchased a new position in shares of Synopsys during the third quarter valued at approximately $10,554,000. Axxcess Wealth Management LLC boosted its position in shares of Synopsys by 44.9% during the first quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock valued at $2,303,000 after buying an additional 1,249 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Synopsys by 61.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 29,221 shares of the semiconductor company’s stock worth $17,388,000 after buying an additional 11,075 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SNPS. Robert W. Baird raised their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Berenberg Bank assumed coverage on shares of Synopsys in a report on Tuesday. They set a “buy” rating and a $660.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys presently has an average rating of “Buy” and a consensus target price of $644.00.

Insider Activity at Synopsys

In other Synopsys 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 transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents a 0.00 % 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. 0.66% of the stock is currently owned by company insiders.

Synopsys Trading Down 3.1 %

NASDAQ:SNPS opened at $501.35 on Thursday. Synopsys, Inc. has a 12 month low of $448.91 and a 12 month high of $629.38. The firm’s 50 day moving average is $512.58 and its 200 day moving average is $548.71. The stock has a market capitalization of $76.81 billion, a PE ratio of 54.49, a price-to-earnings-growth ratio of 3.64 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 (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.15. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.17 earnings per share. Research analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current year.

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.