Pinnacle Wealth Planning Services Inc. Decreases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Pinnacle Wealth Planning Services Inc. decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 23.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 661 shares of the semiconductor company’s stock after selling 205 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Synopsys were worth $321,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Caprock Group LLC raised its position in Synopsys by 0.5% in the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after buying an additional 20 shares during the last quarter. Compagnie Lombard Odier SCmA increased its position in shares of Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock valued at $898,000 after purchasing an additional 20 shares during the last quarter. Edge Capital Group LLC increased its position in shares of Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock valued at $791,000 after purchasing an additional 20 shares during the last quarter. Aptus Capital Advisors LLC increased its position in shares of Synopsys by 1.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock valued at $733,000 after purchasing an additional 22 shares during the last quarter. Finally, Resurgent Financial Advisors LLC increased its position in shares of Synopsys by 2.8% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Loop Capital assumed coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Piper Sandler cut their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 11,366 shares of the company’s 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 sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction that occurred 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 directly 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 disclosure for this sale can be found here. 0.62% of the stock is currently owned by corporate insiders.

Synopsys Price Performance

SNPS stock opened at $450.88 on Friday. Synopsys, Inc. has a 1-year low of $429.77 and a 1-year high of $624.80. The company has a market capitalization of $69.72 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 3.23 and a beta of 1.16. The business has a 50 day simple moving average of $501.21 and a two-hundred day simple moving average of $512.34.

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.