Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 78.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,155 shares of the semiconductor company’s stock after purchasing an additional 945 shares during the period. Valley Wealth Managers Inc.’s holdings in Synopsys were worth $1,091,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SNPS. Kingsview Wealth Management LLC acquired a new position in Synopsys during the 1st quarter valued at approximately $239,000. Dorsey & Whitney Trust CO LLC increased its position in shares of Synopsys by 37.3% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 585 shares of the semiconductor company’s stock valued at $334,000 after acquiring an additional 159 shares during the period. Tocqueville Asset Management L.P. raised its stake in Synopsys by 0.9% in the 1st quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock worth $1,220,000 after acquiring an additional 20 shares during the last quarter. M&G Plc acquired a new stake in Synopsys during the 1st quarter worth about $1,123,000. Finally, Nicolet Advisory Services LLC purchased a new position in shares of Synopsys in the first quarter worth about $262,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Trading Down 5.0 %

Shares of SNPS opened at $520.75 on Friday. The firm has a market cap of $79.99 billion, a P/E ratio of 54.02, a PEG ratio of 3.40 and a beta of 1.08. The stock’s 50 day moving average is $514.14 and its two-hundred day moving average is $545.25. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SNPS shares. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Tuesday, October 22nd. Robert W. Baird raised their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Mizuho began coverage on Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Finally, Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $649.82.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction on 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 sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The trade was a 14.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.