Western Wealth Management LLC Makes New $240,000 Investment in Synopsys, Inc. (NASDAQ:SNPS)

Western Wealth Management LLC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 467 shares of the semiconductor company’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fred Alger Management LLC raised its holdings in Synopsys by 1.8% during the third quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock worth $528,000 after purchasing an additional 20 shares in the last quarter. UMB Bank n.a. raised its position in Synopsys by 1.3% in the 3rd quarter. UMB Bank n.a. now owns 1,719 shares of the semiconductor company’s stock valued at $789,000 after purchasing an additional 22 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp raised its position in Synopsys by 2.6% in the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 859 shares of the semiconductor company’s stock valued at $394,000 after purchasing an additional 22 shares during the last quarter. Synovus Financial Corp raised its position in Synopsys by 0.7% in the 3rd quarter. Synovus Financial Corp now owns 3,370 shares of the semiconductor company’s stock valued at $1,547,000 after purchasing an additional 23 shares during the last quarter. Finally, CENTRAL TRUST Co raised its position in Synopsys by 4.0% in the 3rd quarter. CENTRAL TRUST Co now owns 653 shares of the semiconductor company’s stock valued at $300,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SNPS shares. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Friday, March 22nd. Robert W. Baird upped their price target on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research report on Thursday, March 21st. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Finally, Piper Sandler assumed coverage on shares of Synopsys in a research report on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective for the company. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys currently has an average rating of “Buy” and a consensus target price of $601.00.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the sale, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the transaction, the insider now directly owns 26,780 shares in the company, valued at approximately $15,638,181. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the transaction, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The disclosure for this sale can be found here. Insiders have sold 26,832 shares of company stock valued at $15,464,992 in the last ninety days. Insiders own 0.66% of the company’s stock.

Synopsys Trading Up 0.9 %

Shares of NASDAQ SNPS opened at $515.49 on Tuesday. The stock has a market cap of $78.61 billion, a price-to-earnings ratio of 56.77, a PEG ratio of 2.98 and a beta of 1.06. Synopsys, Inc. has a 52 week low of $360.36 and a 52 week high of $629.38. The company’s 50-day moving average price is $565.59 and its 200 day moving average price is $535.24.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the company earned $1.75 EPS. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. As a group, research analysts expect that Synopsys, Inc. will post 9.78 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.