Tidal Investments LLC Grows Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Tidal Investments LLC grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 159.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,187 shares of the semiconductor company’s stock after purchasing an additional 11,788 shares during the quarter. Tidal Investments LLC’s holdings in Synopsys were worth $9,313,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of SNPS. Advisors Capital Management LLC raised its position in shares of Synopsys by 2.3% during the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company’s stock valued at $408,000 after buying an additional 19 shares during the period. Caprock Group LLC raised its position in shares of Synopsys by 0.5% during the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock valued at $1,803,000 after buying an additional 20 shares during the period. Compagnie Lombard Odier SCmA raised its position in shares of Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock valued at $898,000 after buying an additional 20 shares during the period. Edge Capital Group LLC raised 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 valued at $791,000 after buying an additional 20 shares during the period. Finally, Barden Capital Management Inc. raised its position in shares of Synopsys by 1.1% during the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock valued at $889,000 after buying an additional 20 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Up 0.3%

Shares of NASDAQ SNPS opened at $516.01 on Tuesday. The business’s 50 day moving average is $446.11 and its two-hundred day moving average is $488.94. The firm has a market cap of $79.79 billion, a price-to-earnings ratio of 35.54, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. KeyCorp reduced their price target on shares of Synopsys from $690.00 to $555.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Mizuho reduced their price target on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company reduced their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Bank of America reduced their price target on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Piper Sandler reduced their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $613.43.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business’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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This trade represents a 11.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

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.