Strategic Wealth Partners Ltd. Increases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Strategic Wealth Partners Ltd. raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 16.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,844 shares of the semiconductor company’s stock after purchasing an additional 257 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Synopsys were worth $974,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in shares of Synopsys in the 4th quarter valued at approximately $33,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Synopsys in the 4th quarter valued at approximately $34,000. Sierra Ocean LLC purchased a new position in shares of Synopsys in the 4th quarter valued at approximately $39,000. Hazlett Burt & Watson Inc. grew its stake in shares of Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 20 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Synopsys by 50.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 33 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several analysts have recently commented on the company. Stifel Nicolaus set a $550.00 price target on Synopsys in a report on Monday, April 28th. KeyCorp reduced their price target on Synopsys from $690.00 to $555.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Bank of America reduced their price target on Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Finally, Wells Fargo & Company reduced their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $613.43.

Synopsys Stock Performance

Shares of SNPS stock opened at $514.43 on Monday. The stock has a fifty day moving average price of $444.44 and a 200 day moving average price of $488.96. The stock has a market cap of $79.54 billion, a PE ratio of 35.43, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80.

Synopsys Profile

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.