Western Financial Corporation Acquires 266 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Western Financial Corporation lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPSGet Rating) by 5.8% during the 1st quarter, Holdings Channel reports. The firm owned 4,837 shares of the semiconductor company’s stock after purchasing an additional 266 shares during the period. Synopsys makes up 0.9% of Western Financial Corporation’s holdings, making the stock its 20th largest holding. Western Financial Corporation’s holdings in Synopsys were worth $1,612,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Curi Wealth Management LLC bought a new position in shares of Synopsys during the fourth quarter worth approximately $26,000. Confluence Wealth Services Inc. acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $31,000. CVA Family Office LLC acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $35,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $36,000. Finally, Amplius Wealth Advisors LLC acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $40,000. 84.71% of the stock is currently owned by institutional investors.

Shares of NASDAQ:SNPS opened at $301.23 on Monday. The firm has a market cap of $46.08 billion, a PE ratio of 46.85, a price-to-earnings-growth ratio of 2.59 and a beta of 1.17. The firm’s fifty day moving average is $298.74 and its 200-day moving average is $311.36. Synopsys, Inc. has a 52 week low of $255.02 and a 52 week high of $377.60.

Synopsys (NASDAQ:SNPSGet Rating) last issued its quarterly earnings results on Wednesday, May 18th. The semiconductor company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.09. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Synopsys had a net margin of 21.19% and a return on equity of 18.23%. During the same quarter in the previous year, the business earned $1.24 earnings per share. Research analysts anticipate that Synopsys, Inc. will post 5.95 earnings per share for the current fiscal year.

SNPS has been the topic of several analyst reports. Wells Fargo & Company reduced their price target on shares of Synopsys from $415.00 to $375.00 and set an “overweight” rating on the stock in a research report on Thursday, May 19th. Needham & Company LLC raised their target price on shares of Synopsys from $370.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, May 19th. UBS Group cut their target price on shares of Synopsys to $360.00 and set a “hold” rating on the stock in a research report on Thursday, May 19th. StockNews.com lowered shares of Synopsys from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 3rd. Finally, Bank of America upgraded shares of Synopsys from an “underperform” rating to a “neutral” rating and raised their target price for the company from $325.00 to $360.00 in a research report on Wednesday, June 29th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.91.

In other Synopsys news, insider John F. Runkel, Jr. sold 3,463 shares of the business’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $330.00, for a total value of $1,142,790.00. Following the transaction, the insider now directly owns 22,623 shares in the company, valued at $7,465,590. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Joseph W. Logan sold 53,706 shares of the business’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $299.12, for a total transaction of $16,064,538.72. Following the completion of the transaction, the executive now owns 99,907 shares in the company, valued at $29,884,181.84. The disclosure for this sale can be found here. Insiders have sold 124,634 shares of company stock valued at $37,821,492 in the last three months. 1.20% of the stock is owned by insiders.

About Synopsys (Get Rating)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; Verification Continuum Platform that provides 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.

Further Reading

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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