Western Financial Corp CA Has $1.75 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Western Financial Corp CA increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,458 shares of the semiconductor company’s stock after purchasing an additional 99 shares during the period. Synopsys makes up about 1.0% of Western Financial Corp CA’s portfolio, making the stock its 24th biggest holding. Western Financial Corp CA’s holdings in Synopsys were worth $1,751,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Andina Capital Management LLC grew its position in Synopsys by 2.8% during the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after buying an additional 18 shares in the last quarter. Cascade Financial Partners LLC grew its position in Synopsys by 4.9% during the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 18 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in Synopsys by 40.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 20 shares during the last quarter. Ignite Planners LLC grew its stake in shares of Synopsys by 3.5% in the first quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock worth $344,000 after purchasing an additional 20 shares during the last quarter. Finally, Monument Capital Management raised its position in shares of Synopsys by 1.1% during the first quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock worth $1,074,000 after acquiring an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Berenberg Bank initiated coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and set a $687.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price target on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. KeyCorp boosted their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, Robert W. Baird lifted their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys presently has a consensus rating of “Buy” and a consensus price target of $644.00.

Synopsys Stock Performance

Shares of SNPS traded down $3.07 during trading hours on Monday, hitting $503.96. The company had a trading volume of 462,945 shares, compared to its average volume of 1,077,456. The stock has a market capitalization of $77.41 billion, a price-to-earnings ratio of 52.30, a P/E/G ratio of 3.47 and a beta of 1.08. The firm has a fifty day moving average price of $512.02 and a 200-day moving average price of $547.55. Synopsys, Inc. has a 52-week low of $448.91 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS) last announced 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. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.17 earnings per share. Research analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

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.