Center for Financial Planning Inc. Makes New $66,000 Investment in Synopsys, Inc. (NASDAQ:SNPS)

Center for Financial Planning Inc. bought a new position in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 136 shares of the semiconductor company’s stock, valued at approximately $66,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new stake in Synopsys in the fourth quarter worth approximately $27,000. Hazlett Burt & Watson Inc. lifted its position in Synopsys by 40.0% in 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 period. Princeton Global Asset Management LLC acquired a new stake in Synopsys in the third quarter worth approximately $44,000. nVerses Capital LLC acquired a new stake in Synopsys in the third quarter worth approximately $51,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Synopsys in the fourth quarter worth approximately $51,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on SNPS. Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. Piper Sandler cut their target price 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. Finally, Loop Capital assumed coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Synopsys has an average rating of “Moderate Buy” and an average target price of $641.82.

Synopsys Price Performance

Shares of Synopsys stock opened at $522.53 on Friday. The firm has a market cap of $80.77 billion, a price-to-earnings ratio of 35.99, a P/E/G ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The stock has a 50-day simple moving average of $510.67 and a 200-day simple moving average of $518.23.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is owned by corporate insiders.

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.