Valley Wealth Managers Inc. Has $1.30 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Valley Wealth Managers Inc. increased its holdings in Synopsys, Inc. by 16.4% during the first quarter, owning 3,030 shares valued at approximately $1.3 million.
• Several institutional investors, including Norges Bank and GAMMA Investing LLC, significantly expanded their stakes in Synopsys, leading to 85.47% of the company's stock being controlled by these investors.
• In recent trading, Synopsys shares are valued at $601.55, with analysts giving it a consensus price target of $622.33 and an average rating of "Moderate Buy".

Valley Wealth Managers Inc. grew its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 16.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,030 shares of the semiconductor company's stock after buying an additional 428 shares during the period. Valley Wealth Managers Inc.'s holdings in Synopsys were worth $1,299,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. TD Asset Management Inc boosted its holdings in shares of Synopsys by 13.8% in the 1st quarter. TD Asset Management Inc now owns 141,401 shares of the semiconductor company's stock worth $60,640,000 after acquiring an additional 17,116 shares in the last quarter. HB Wealth Management LLC increased its position in shares of Synopsys by 5.2% in the 1st quarter. HB Wealth Management LLC now owns 3,336 shares of the semiconductor company's stock valued at $1,431,000 after buying an additional 164 shares in the last quarter. Applied Finance Capital Management LLC bought a new stake in shares of Synopsys in the 1st quarter valued at $797,000. Mediolanum International Funds Ltd increased its holdings in Synopsys by 48.0% during the 1st quarter. Mediolanum International Funds Ltd now owns 31,284 shares of the semiconductor company's stock worth $13,701,000 after purchasing an additional 10,149 shares in the last quarter. Finally, Prossimo Advisors LLC increased its holdings in Synopsys by 10.3% during the 1st quarter. Prossimo Advisors LLC now owns 1,770 shares of the semiconductor company's stock worth $759,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Buying and Selling at Synopsys

In other news, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the transaction, the chief financial officer directly owned 15,291 shares in the company, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the transaction, the executive owned 1,485 shares in the company, valued at $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is owned by company insiders.

Synopsys Price Performance

SNPS traded up $14.65 during midday trading on Wednesday, hitting $650.46. 845,594 shares of the company traded hands, compared to its average volume of 1,454,195. 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 company has a market capitalization of $100.93 billion, a price-to-earnings ratio of 46.94, a PEG ratio of 3.92 and a beta of 1.12. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $649.46. The business has a 50 day simple moving average of $521.77 and a two-hundred day simple moving average of $488.50.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same period last year, the business earned $3.00 earnings per share. The business's revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Mizuho decreased their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. KeyCorp lifted their price target on shares of Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Rosenblatt Securities boosted their price objective on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Needham & Company LLC restated a "buy" rating and set a $660.00 price objective (up previously from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Finally, Bank of America boosted their price objective on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and a consensus target price of $622.33.

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.