VCI Wealth Management LLC Invests $2.21 Million in Synopsys, Inc. (NASDAQ:SNPS)

VCI Wealth Management LLC bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,550 shares of the semiconductor company’s stock, valued at approximately $2,208,000. Synopsys makes up approximately 0.9% of VCI Wealth Management LLC’s holdings, making the stock its 28th biggest position.

Other hedge funds also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. lifted its position in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. Green Alpha Advisors LLC grew its stake in Synopsys by 1.7% in the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after acquiring an additional 22 shares during the period. Aptus Capital Advisors LLC raised its holdings in Synopsys by 1.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock valued at $733,000 after acquiring an additional 22 shares during the last quarter. Resurgent Financial Advisors LLC boosted its holdings in shares of Synopsys by 2.8% during the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock worth $410,000 after purchasing an additional 22 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Synopsys by 6.1% in the third quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock valued at $202,000 after purchasing an additional 23 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Berenberg Bank started coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Robert W. Baird cut their price target 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. Piper Sandler dropped their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Trading Down 6.5 %

NASDAQ SNPS opened at $510.73 on Tuesday. The company’s fifty day simple moving average is $518.68 and its 200-day simple moving average is $522.91. The stock has a market cap of $78.95 billion, a P/E ratio of 35.17, a PEG ratio of 3.57 and a beta of 1.12. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38.

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by company 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.