464 Shares in Synopsys, Inc. (NASDAQ:SNPS) Bought by Portfolio Design Labs LLC

Portfolio Design Labs LLC purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 464 shares of the semiconductor company’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Kieckhefer Group LLC bought a new stake in Synopsys during the 4th quarter valued at approximately $27,000. Tsfg LLC grew its holdings in Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares during the last quarter. Princeton Global Asset Management LLC purchased a new position in shares of Synopsys in the third quarter worth $44,000. Finally, nVerses Capital LLC bought a new position in shares of Synopsys during the third quarter worth $51,000. 85.47% of the stock is owned by institutional investors.

Synopsys Trading Down 3.7 %

SNPS stock opened at $509.71 on Thursday. The stock has a market cap of $78.79 billion, a PE ratio of 35.10, a P/E/G ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The company has a 50-day moving average price of $511.98 and a 200 day moving average price of $518.22.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of research reports. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. Robert W. Baird reduced their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, Piper Sandler cut their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and a consensus target price of $641.82.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction 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 sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.66% of the stock is owned by 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.