WealthShield Partners LLC Buys New Shares in Synopsys, Inc. (NASDAQ:SNPS)

WealthShield Partners LLC bought a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,222 shares of the semiconductor company’s stock, valued at approximately $1,564,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new stake in Synopsys during the fourth quarter valued at approximately $27,000. Hazlett Burt & Watson Inc. lifted its stake in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Synopsys during the fourth quarter valued at approximately $39,000. Princeton Global Asset Management LLC acquired a new stake in shares of Synopsys during the third quarter valued at approximately $44,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Synopsys during the fourth quarter valued at approximately $51,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Loop Capital assumed coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Finally, Piper Sandler dropped their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Stock Performance

Shares of SNPS stock opened at $474.84 on Monday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The stock has a market cap of $73.40 billion, a price-to-earnings ratio of 32.70, a P/E/G ratio of 3.23 and a beta of 1.12. The firm has a fifty day moving average of $510.21 and a 200-day moving average of $517.67.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.66% of the stock is currently owned by corporate 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.