Western Financial Corp CA Acquires 99 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Western Financial Corp CA grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,458 shares of the semiconductor company’s stock after purchasing an additional 99 shares during the quarter. Synopsys comprises approximately 1.0% of Western Financial Corp CA’s holdings, making the stock its 24th largest holding. Western Financial Corp CA’s holdings in Synopsys were worth $1,751,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. ORG Partners LLC boosted its position in shares of Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. Pacifica Partners Inc. acquired a new position in Synopsys in the third quarter valued at about $25,000. Tsfg LLC increased its holdings in shares of Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares in the last quarter. Chris Bulman Inc acquired a new stake in shares of Synopsys during the second quarter worth about $30,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of Synopsys by 66.7% during the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Price Performance

SNPS stock traded down $3.07 during mid-day trading on Monday, reaching $503.96. The company had a trading volume of 462,945 shares, compared to its average volume of 1,077,456. The company has a market capitalization of $77.41 billion, a price-to-earnings ratio of 52.30, a PEG ratio of 3.47 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $448.91 and a 52 week high of $629.38. The stock has a 50 day simple moving average of $512.02 and a two-hundred day simple moving average of $547.55.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $2.17 earnings per share. On average, equities analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SNPS. JPMorgan Chase & Co. increased their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird raised their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. KeyCorp increased 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. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $644.00.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is currently owned by corporate insiders.

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.