Paladin Wealth LLC Makes New $419,000 Investment in Synopsys, Inc. (NASDAQ:SNPS)

Paladin Wealth LLC bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 863 shares of the semiconductor company’s stock, valued at approximately $419,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new stake in shares of Synopsys during the fourth quarter worth approximately $27,000. Tsfg LLC increased its holdings in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. raised its holdings in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares during the last quarter. Princeton Global Asset Management LLC purchased a new stake in Synopsys during the third quarter worth $44,000. Finally, nVerses Capital LLC acquired a new stake in Synopsys in the third quarter valued at $51,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 1.0 %

Shares of SNPS stock opened at $531.33 on Tuesday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The firm’s 50 day moving average price is $513.49 and its two-hundred day moving average price is $518.39. The stock has a market cap of $82.13 billion, a price-to-earnings ratio of 36.59, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12.

Analyst Ratings Changes

SNPS has been the subject of a number of research reports. Robert W. Baird cut their target price on shares of 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 decreased their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Berenberg Bank started coverage on shares of Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

Insider Activity at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.66% of the company’s stock.

Synopsys 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.