Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by NewEdge Advisors LLC

by · The Markets Daily

NewEdge Advisors LLC boosted its position in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,615 shares of the semiconductor company’s stock after purchasing an additional 127 shares during the period. NewEdge Advisors LLC’s holdings in Synopsys were worth $1,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new position in shares of Synopsys in the 4th quarter valued at about $27,000. Whipplewood Advisors LLC acquired a new position in Synopsys during the fourth quarter worth about $33,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Synopsys in the fourth quarter valued at about $34,000. Sierra Ocean LLC acquired a new stake in shares of Synopsys during the 4th quarter valued at approximately $39,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SNPS shares. Wells Fargo & Company reduced their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. KeyCorp cut their price target on Synopsys from $690.00 to $555.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Bank of America lowered their price objective on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Finally, Morgan Stanley lowered 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. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $618.31.

View Our Latest Research Report on SNPS

Synopsys Stock Up 3.9 %

Shares of NASDAQ:SNPS opened at $438.90 on Friday. The business has a fifty day simple moving average of $438.23 and a 200-day simple moving average of $492.97. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. The company has a market cap of $67.86 billion, a P/E ratio of 30.23, a P/E/G ratio of 3.23 and a beta of 1.23.

Insider Activity

In related news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the 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 transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

Synopsys Profile

(Free Report)

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.

Further Reading

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