World Equity Group Inc. Invests $347,000 in Synopsys, Inc. (NASDAQ:SNPS)

World Equity Group Inc. purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 714 shares of the semiconductor company’s stock, valued at approximately $347,000.

Other large investors also recently modified their holdings of the company. Kieckhefer Group LLC purchased a new stake in shares of Synopsys during the 4th quarter worth approximately $27,000. Hazlett Burt & Watson Inc. increased its stake in shares of Synopsys by 40.0% during the 3rd 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. Sierra Ocean LLC purchased a new stake in shares of Synopsys during the 4th quarter worth approximately $39,000. Princeton Global Asset Management LLC purchased a new position in Synopsys in the 3rd quarter valued at approximately $44,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Synopsys in the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.66% of the stock is currently owned by insiders.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $474.84 on Monday. The firm has a fifty day moving average price of $510.21 and a two-hundred day moving average price of $517.67. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The company has a market cap of $73.40 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 3.23 and a beta of 1.12.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Robert W. Baird reduced their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Finally, Piper Sandler reduced their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

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.