Annis Gardner Whiting Capital Advisors LLC Increases Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Annis Gardner Whiting Capital Advisors LLC grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 50.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 98 shares of the semiconductor company’s stock after acquiring an additional 33 shares during the period. Annis Gardner Whiting Capital Advisors LLC’s holdings in Synopsys were worth $48,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Kieckhefer Group LLC acquired a new position in Synopsys during the 4th quarter worth about $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Synopsys during the fourth quarter worth about $33,000. Sierra Ocean LLC purchased a new position in shares of Synopsys in the fourth quarter valued at approximately $39,000. Hazlett Burt & Watson Inc. grew its holdings in shares of Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 20 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Synopsys during the 4th quarter worth approximately $51,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Piper Sandler reduced their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Rosenblatt Securities reissued a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company reduced their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Stock Performance

SNPS opened at $388.13 on Friday. Synopsys, Inc. has a one year low of $387.41 and a one year high of $624.80. The stock has a market capitalization of $60.01 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The business’s 50-day simple moving average is $473.83 and its 200-day simple moving average is $503.08.

Insider Buying and Selling

In other Synopsys news, 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock worth $22,794,835 in the last quarter. 0.62% of the stock is owned by insiders.

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.