Cwm LLC Raises Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Cwm LLC increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 9.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,333 shares of the semiconductor company’s stock after buying an additional 477 shares during the quarter. Cwm LLC’s holdings in Synopsys were worth $3,173,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SNPS. Norges Bank acquired a new stake in shares of Synopsys during the fourth quarter valued at about $1,272,143,000. Swedbank AB acquired a new position in Synopsys in the first quarter worth about $1,051,637,000. Price T Rowe Associates Inc. MD grew its stake in Synopsys by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after purchasing an additional 1,514,449 shares in the last quarter. GQG Partners LLC grew its stake in Synopsys by 91.6% in the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after purchasing an additional 1,001,371 shares in the last quarter. Finally, Capital World Investors grew its stake in Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after purchasing an additional 818,485 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Thursday, May 23rd. KeyCorp boosted their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. boosted their target price on Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Robert W. Baird lifted their price target on shares of Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $627.18.

Insider Transactions at Synopsys

In related news, insider John F. Runkel, Jr. sold 936 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $566.97, for a total value of $530,683.92. Following the transaction, the insider now directly owns 20,000 shares in the company, valued at $11,339,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John F. Runkel, Jr. sold 936 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $566.97, for a total transaction of $530,683.92. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,339,400. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,363 shares of company stock worth $49,361,263. Corporate insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Synopsys stock traded up $15.28 during trading hours on Thursday, hitting $505.25. 270,249 shares of the stock were exchanged, compared to its average volume of 1,079,015. The stock has a market capitalization of $77.41 billion, a P/E ratio of 53.26, a P/E/G ratio of 3.26 and a beta of 1.07. Synopsys, Inc. has a 12 month low of $418.51 and a 12 month high of $629.38. The business’s 50-day moving average is $579.28 and its two-hundred day moving average is $566.71.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company posted $1.76 earnings per share. Synopsys’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, equities analysts predict that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal 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.