Grant Private Wealth Management Inc Purchases New Position in Synopsys, Inc. (NASDAQ:SNPS)

Grant Private Wealth Management Inc acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 462 shares of the semiconductor company’s stock, valued at approximately $224,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Captrust Financial Advisors lifted its holdings in Synopsys by 8.1% during the 3rd quarter. Captrust Financial Advisors now owns 4,994 shares of the semiconductor company’s stock valued at $2,529,000 after purchasing an additional 374 shares during the last quarter. Benjamin Edwards Inc. raised its stake in shares of Synopsys by 458.9% in the third quarter. Benjamin Edwards Inc. now owns 598 shares of the semiconductor company’s stock valued at $303,000 after acquiring an additional 491 shares during the last quarter. Hilltop Holdings Inc. acquired a new position in shares of Synopsys in the 3rd quarter worth approximately $567,000. Investment Management Corp of Ontario grew its position in Synopsys by 46.3% during the 3rd quarter. Investment Management Corp of Ontario now owns 5,688 shares of the semiconductor company’s stock worth $2,880,000 after acquiring an additional 1,800 shares during the last quarter. Finally, IHT Wealth Management LLC increased its holdings in Synopsys by 39.1% during the 3rd quarter. IHT Wealth Management LLC now owns 858 shares of the semiconductor company’s stock valued at $433,000 after purchasing an additional 241 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Up 0.6 %

SNPS stock opened at $438.55 on Thursday. Synopsys, Inc. has a twelve month low of $420.47 and a twelve month high of $624.80. The company has a market cap of $67.81 billion, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The business’s fifty day moving average is $479.67 and its 200-day moving average is $504.45.

Insider Activity at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on 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 owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of recent analyst reports. 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. Morgan Stanley reduced their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Rosenblatt Securities restated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Piper Sandler reduced their target price 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $638.58.

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.