WealthPLAN Partners LLC Has $895,000 Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

WealthPLAN Partners LLC lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 15.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,845 shares of the semiconductor company’s stock after selling 349 shares during the quarter. WealthPLAN Partners LLC’s holdings in Synopsys were worth $895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Center for Financial Planning Inc. bought a new position in Synopsys in the fourth quarter valued at approximately $66,000. ABC Arbitrage SA acquired a new stake in shares of Synopsys in the 4th quarter valued at approximately $3,728,000. Klingenstein Fields & Co. LP grew its stake in shares of Synopsys by 0.5% in the fourth quarter. Klingenstein Fields & Co. LP now owns 21,527 shares of the semiconductor company’s stock valued at $10,448,000 after buying an additional 108 shares in the last quarter. Compagnie Lombard Odier SCmA increased its holdings in Synopsys by 1.1% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after buying an additional 20 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its position in Synopsys by 10.0% during the fourth quarter. Vontobel Holding Ltd. now owns 1,062,142 shares of the semiconductor company’s stock worth $515,521,000 after acquiring an additional 96,886 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SNPS shares. Robert W. Baird lowered their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Thursday, December 5th. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. Wells Fargo & Company reduced their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, Loop Capital started coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

Synopsys Stock Performance

SNPS opened at $522.53 on Friday. The stock has a fifty day moving average of $510.67 and a 200-day moving average of $518.23. The company has a market capitalization of $80.77 billion, a P/E ratio of 35.99, a P/E/G ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’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 completion of the sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.66% of the stock is owned by insiders.

Synopsys Company 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.