Whipplewood Advisors LLC Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Whipplewood Advisors LLC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 68 shares of the semiconductor company’s stock, valued at approximately $33,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNPS. Kieckhefer Group LLC purchased a new stake in shares of Synopsys in the 4th quarter valued at approximately $27,000. Hazlett Burt & Watson Inc. increased its holdings in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Synopsys in the fourth quarter valued at approximately $39,000. Princeton Global Asset Management LLC acquired a new position in Synopsys during the third quarter worth $44,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Synopsys during the fourth quarter worth $51,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Trading Up 0.6 %

Shares of NASDAQ:SNPS opened at $457.28 on Friday. Synopsys, Inc. has a 52 week low of $448.11 and a 52 week high of $624.80. The company’s 50 day moving average is $506.14 and its two-hundred day moving average is $515.60. The company has a market cap of $70.69 billion, a PE ratio of 31.49, a P/E/G ratio of 3.23 and a beta of 1.12.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The stock was 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 $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SNPS has been the topic of several research analyst reports. Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Wells Fargo & Company dropped their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday. Loop Capital started coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price target on the stock. Piper Sandler dropped their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $638.58.

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.