CWA Asset Management Group LLC Invests $1.14 Million in Synopsys, Inc. (NASDAQ:SNPS)

CWA Asset Management Group LLC acquired a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,248 shares of the semiconductor company's stock, valued at approximately $1,138,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ABLE Financial Group LLC increased its position in Synopsys by 16.6% during the 3rd quarter. ABLE Financial Group LLC now owns 2,657 shares of the semiconductor company's stock worth $1,345,000 after purchasing an additional 378 shares in the last quarter. Stiles Financial Services Inc grew its holdings in Synopsys by 1.3% during the 3rd quarter. Stiles Financial Services Inc now owns 3,737 shares of the semiconductor company's stock worth $1,892,000 after acquiring an additional 49 shares during the last quarter. Bensler LLC grew its holdings in Synopsys by 10.9% during the 3rd quarter. Bensler LLC now owns 9,723 shares of the semiconductor company's stock worth $4,924,000 after acquiring an additional 958 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in Synopsys by 4.4% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 17,176 shares of the semiconductor company's stock worth $8,698,000 after acquiring an additional 725 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Synopsys by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 247,966 shares of the semiconductor company's stock worth $125,568,000 after acquiring an additional 2,655 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Price Performance

Shares of NASDAQ SNPS traded down $7.04 during midday trading on Monday, reaching $554.51. 254,057 shares of the stock traded hands, compared to its average volume of 1,063,904. The stock has a market capitalization of $85.18 billion, a PE ratio of 58.25, a P/E/G ratio of 3.42 and a beta of 1.08. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The company's 50 day moving average is $507.77 and its 200 day moving average is $545.05.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly 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. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the firm posted $2.17 EPS. Synopsys's quarterly revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated 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 transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Piper Sandler cut their target price on shares of Synopsys from $687.00 to $670.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Robert W. Baird upped 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. Needham & Company LLC restated a "buy" rating and set a $640.00 price objective on shares of Synopsys in a report on Tuesday, October 22nd. Finally, Mizuho initiated coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 target price for the company. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $647.30.

Synopsys 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.