Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by FFT Wealth Management LLC

FFT Wealth Management LLC boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,689 shares of the semiconductor company’s stock after acquiring an additional 310 shares during the period. FFT Wealth Management LLC’s holdings in Synopsys were worth $4,703,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC grew its holdings in Synopsys by 167.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 94,138 shares of the semiconductor company’s stock worth $45,691,000 after acquiring an additional 58,980 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Synopsys by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,086,249 shares of the semiconductor company’s stock worth $527,222,000 after buying an additional 3,533 shares during the last quarter. Brown Financial Advisors purchased a new stake in shares of Synopsys during the 4th quarter worth approximately $756,000. Pine Valley Investments Ltd Liability Co lifted its position in shares of Synopsys by 155.3% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 1,856 shares of the semiconductor company’s stock worth $901,000 after buying an additional 1,129 shares during the last quarter. Finally, Edge Capital Group LLC lifted its position in shares of Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock worth $791,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of Synopsys stock opened at $457.95 on Wednesday. Synopsys, Inc. has a one year low of $457.00 and a one year high of $624.80. The company has a market cap of $70.79 billion, a P/E ratio of 31.54, a PEG ratio of 3.23 and a beta of 1.12. The firm has a fifty day moving average of $508.09 and a two-hundred day moving average of $516.89.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

SNPS has been the subject of several recent analyst reports. Piper Sandler reduced their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Robert W. Baird reduced their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Redburn Atlantic began coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Tuesday. Finally, Wells Fargo & Company reduced their price target on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and a consensus target price of $639.58.

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.