1858 Wealth Management LLC Acquires 37 Shares of Synopsys, Inc. (NASDAQ:SNPS)

1858 Wealth Management LLC lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 820 shares of the semiconductor company’s stock after acquiring an additional 37 shares during the period. 1858 Wealth Management LLC’s holdings in Synopsys were worth $398,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pacifica Partners Inc. bought a new position in Synopsys in the 3rd quarter worth approximately $25,000. Kieckhefer Group LLC purchased a new position in shares of Synopsys in the fourth quarter worth $27,000. Tsfg LLC boosted its position in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in Synopsys in the 3rd quarter valued at $44,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 0.7 %

Shares of NASDAQ:SNPS opened at $523.88 on Wednesday. The company has a market capitalization of $80.98 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 3.44 and a beta of 1.12. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The firm’s 50-day moving average is $515.42 and its 200 day moving average is $519.67.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SNPS. Robert W. Baird cut their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Piper Sandler cut their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. Finally, Berenberg Bank assumed coverage on shares of Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through 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.