Prosperity Consulting Group LLC Increases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Prosperity Consulting Group LLC boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 8.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,517 shares of the semiconductor company’s stock after buying an additional 347 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Synopsys were worth $2,192,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SNPS. Kieckhefer Group LLC bought a new stake in Synopsys in the 4th quarter worth about $27,000. Whipplewood Advisors LLC bought a new position in shares of Synopsys in the fourth quarter valued at approximately $33,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Synopsys during the fourth quarter valued at approximately $34,000. Sierra Ocean LLC bought a new stake in Synopsys during the fourth quarter worth $39,000. Finally, Hazlett Burt & Watson Inc. boosted its position in Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 20 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Price Performance

SNPS stock opened at $446.62 on Friday. The stock has a market capitalization of $69.06 billion, a P/E ratio of 30.76, a P/E/G ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The business has a fifty day moving average price of $436.66 and a 200-day moving average price of $492.23.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of research reports. KeyCorp lowered their price target on shares of Synopsys from $690.00 to $555.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company lowered their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Bank of America cut their price target on Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Piper Sandler lowered their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $618.31.

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.