EverSource Wealth Advisors LLC Grows Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

EverSource Wealth Advisors LLC increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 34.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 434 shares of the semiconductor company’s stock after buying an additional 110 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Synopsys were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new position in shares of Synopsys in the 4th quarter worth about $27,000. Whipplewood Advisors LLC purchased a new position in shares of Synopsys in the 4th quarter worth about $33,000. Sierra Ocean LLC purchased a new position in shares of Synopsys in the 4th quarter worth about $39,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Synopsys in the 4th quarter worth about $51,000. Finally, Versant Capital Management Inc raised its holdings in shares of Synopsys by 109.3% in the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 59 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SNPS shares. Rosenblatt Securities restated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Piper Sandler dropped their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Robert W. Baird dropped their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Trading Up 4.1 %

Shares of SNPS opened at $446.23 on Monday. The firm has a market cap of $69.00 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 3.23 and a beta of 1.16. The stock has a 50 day moving average of $495.89 and a 200-day moving average of $508.30. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80.

About Synopsys

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.