Walter Public Investments Inc. Purchases New Shares in Synopsys, Inc. (NASDAQ:SNPS)

Walter Public Investments Inc. acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,056 shares of the semiconductor company’s stock, valued at approximately $10,744,000. Synopsys accounts for 2.0% of Walter Public Investments Inc.’s portfolio, making the stock its 28th largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNPS. Kingsview Wealth Management LLC acquired a new position in shares of Synopsys during the 1st quarter worth about $239,000. Concurrent Investment Advisors LLC acquired a new position in shares of Synopsys during the first quarter valued at approximately $218,000. Bridgefront Capital LLC purchased a new position in shares of Synopsys in the fourth quarter valued at approximately $951,000. Vanguard Group Inc. boosted its stake in shares of Synopsys by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock worth $6,977,593,000 after acquiring an additional 203,601 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its position in shares of Synopsys by 44.9% during the first quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock worth $2,303,000 after purchasing an additional 1,249 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Performance

SNPS stock opened at $490.07 on Monday. Synopsys, Inc. has a one year low of $440.62 and a one year high of $629.38. The firm has a market cap of $75.09 billion, a PE ratio of 53.27, a PEG ratio of 3.23 and a beta of 1.08. The firm’s 50 day moving average price is $536.92 and its 200-day moving average price is $559.22.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.17 EPS. Equities research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on SNPS. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Piper Sandler reissued an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Finally, KeyCorp upped their price target on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $630.09.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 5,448 shares of Synopsys stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the completion of the sale, the insider now directly owns 106,983 shares in the company, valued at $66,431,093.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Geus Aart De sold 5,448 shares of Synopsys stock in a transaction on Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,431,093.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sassine Ghazi sold 10,293 shares of the 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 directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. Insiders have sold 73,687 shares of company stock valued at $44,616,637 over the last 90 days. 0.66% of the stock is owned by 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.