Cwm LLC Sells 64 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Posted by on Apr 22nd, 2023

Cwm LLC reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS – Get Rating) by 2.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,693 shares of the semiconductor company’s stock after selling 64 shares during the period. Cwm LLC’s holdings in Synopsys were worth $860,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNPS. Kistler Tiffany Companies LLC bought a new position in Synopsys in the 4th quarter worth approximately $32,000. Altshuler Shaham Ltd purchased a new stake in Synopsys in the 3rd quarter worth approximately $35,000. MV Capital Management Inc. lifted its stake in Synopsys by 47.2% in the 3rd quarter. MV Capital Management Inc. now owns 131 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 42 shares in the last quarter. CI Investments Inc. lifted its stake in Synopsys by 957.9% in the 3rd quarter. CI Investments Inc. now owns 201 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 182 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its stake in Synopsys by 26.0% in the 3rd quarter. Valley National Advisers Inc. now owns 228 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 47 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on SNPS shares. Rosenblatt Securities reiterated a “buy” rating and issued a $420.00 target price on shares of Synopsys in a research note on Tuesday, February 14th. Atlantic Securities began coverage on shares of Synopsys in a research note on Tuesday, January 17th. They issued an “overweight” rating on the stock. Needham & Company LLC raised their price objective on shares of Synopsys from $420.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. StockNews.com began coverage on shares of Synopsys in a research report on Thursday, March 16th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company raised their price objective on shares of Synopsys from $400.00 to $410.00 and gave the company an “overweight” rating in a research report on Thursday, February 16th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $424.18.

Insider Buying and Selling

In related news, insider John F. Runkel, Jr. sold 3,464 shares of Synopsys stock in a transaction on Friday, February 17th. The shares were sold at an average price of $353.91, for a total value of $1,225,944.24. Following the transaction, the insider now owns 25,112 shares in the company, valued at approximately $8,887,387.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Synopsys news, CAO Sudhindra Kankanwadi sold 4,000 shares of the firm’s stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of $391.43, for a total value of $1,565,720.00. Following the sale, the chief accounting officer now owns 16,758 shares of the company’s stock, valued at approximately $6,559,583.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John F. Runkel, Jr. sold 3,464 shares of the firm’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $353.91, for a total transaction of $1,225,944.24. Following the completion of the sale, the insider now directly owns 25,112 shares in the company, valued at approximately $8,887,387.92. The disclosure for this sale can be found here. Insiders have sold a total of 11,464 shares of company stock worth $4,235,984 in the last 90 days. 0.69% of the stock is owned by company insiders.

Synopsys Stock Down 0.1 %

Shares of NASDAQ:SNPS opened at $377.26 on Friday. The stock has a market cap of $57.46 billion, a PE ratio of 62.25, a PEG ratio of 3.35 and a beta of 1.18. The company’s fifty day moving average is $370.68 and its 200 day moving average is $339.25. Synopsys, Inc. has a 52 week low of $255.02 and a 52 week high of $392.79.

Synopsys (NASDAQ:SNPS – Get Rating) last issued its earnings results on Wednesday, February 15th. The semiconductor company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.12. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Synopsys had a net margin of 18.22% and a return on equity of 16.88%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 EPS. Sell-side analysts anticipate that Synopsys, Inc. will post 7.2 EPS for the current year.

About Synopsys

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Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.

See Also

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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