Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 86.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,641 shares of the semiconductor company’s stock after buying an additional 8,641 shares during the period. New Age Alpha Advisors LLC’s holdings in Synopsys were worth $9,048,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Kieckhefer Group LLC purchased a new position in shares of Synopsys in the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC purchased a new stake in Synopsys during the 4th quarter worth about $33,000. Sierra Ocean LLC purchased a new position in shares of Synopsys in the 4th quarter valued at about $39,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Synopsys during the 4th quarter worth about $51,000. Finally, Versant Capital Management Inc raised its stake in Synopsys by 109.3% during the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 59 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Piper Sandler reduced their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. 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 report on Thursday, December 5th. Redburn Atlantic assumed coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Morgan Stanley decreased their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Buying and Selling at Synopsys

In related news, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the sale, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock valued at $22,794,835 in the last three months. Corporate insiders own 0.62% of the company’s stock.

Synopsys Price Performance

NASDAQ:SNPS opened at $446.23 on Friday. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80. The stock has a market cap of $69.00 billion, a P/E ratio of 30.73, a PEG ratio of 3.23 and a beta of 1.16. The firm has a 50-day moving average of $487.40 and a two-hundred day moving average of $505.45.

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.