CWA Asset Management Group LLC Increases Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

CWA Asset Management Group LLC lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,343 shares of the semiconductor company’s stock after buying an additional 129 shares during the period. CWA Asset Management Group LLC’s holdings in Synopsys were worth $1,005,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SNPS. Ameriflex Group Inc. acquired a new stake in Synopsys during the fourth quarter worth about $29,000. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys during the 4th quarter worth about $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Synopsys during the 4th quarter worth approximately $34,000. Hazlett Burt & Watson Inc. raised its holdings in Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 20 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its position in Synopsys by 50.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 33 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Performance

Synopsys stock opened at $473.62 on Friday. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The stock has a market cap of $73.49 billion, a P/E ratio of 34.20, a price-to-earnings-growth ratio of 3.13 and a beta of 1.11. The stock has a 50 day moving average of $471.43 and a 200-day moving average of $479.64.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.40 by $0.27. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.00 EPS. On average, analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Buying and Selling

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the transaction, the chief financial officer now owns 15,291 shares of the company’s stock, valued at $7,427,144.52. This trade represents a 32.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the sale, the chief executive officer now owns 71,589 shares of the company’s stock, valued at $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. KeyCorp set a $540.00 price target on Synopsys in a report on Tuesday, June 3rd. Needham & Company LLC restated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, May 29th. Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Finally, Mizuho dropped their target price on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $607.14.

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.