GeoWealth Management LLC Purchases 562 Shares of Synopsys, Inc. (NASDAQ:SNPS)

GeoWealth Management LLC boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 79.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,266 shares of the semiconductor company’s stock after acquiring an additional 562 shares during the quarter. GeoWealth Management LLC’s holdings in Synopsys were worth $614,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SNPS. Nordea Investment Management AB increased its position in shares of Synopsys by 15.9% during the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after purchasing an additional 143,284 shares during the last quarter. James Hambro & Partners LLP grew its position in Synopsys by 30.9% during the fourth quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock valued at $97,725,000 after buying an additional 47,527 shares during the period. Synovus Financial Corp increased its holdings in Synopsys by 199.2% during the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock valued at $7,627,000 after buying an additional 10,028 shares during the last quarter. Janney Capital Management LLC bought a new position in Synopsys in the fourth quarter worth approximately $6,082,000. Finally, Artemis Investment Management LLP boosted its stake in shares of Synopsys by 4.5% during the 4th quarter. Artemis Investment Management LLP now owns 24,878 shares of the semiconductor company’s stock worth $12,075,000 after acquiring an additional 1,081 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 0.6 %

Shares of Synopsys stock opened at $413.32 on Monday. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80. The business has a 50-day moving average price of $446.35 and a 200-day moving average price of $495.09. The firm has a market cap of $63.91 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 3.23 and a beta of 1.23.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The transaction 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 the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $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 Analyst Weigh In

Several equities analysts recently weighed in on the company. Redburn Atlantic initiated coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. Mizuho cut their price objective on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC restated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. 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. Finally, Piper Sandler decreased their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research 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. Based on data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $618.31.

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.