CreativeOne Wealth LLC Raises Stock Holdings in Synopsys, Inc. $SNPS

Key Points

• CreativeOne Wealth LLC increased its stake in Synopsys, Inc. by 26.4%, acquiring an additional 707 shares, bringing its total holdings to 3,388 shares valued at approximately $1,453,000.
• Significant movements in holdings were observed among other hedge funds, with Cornerstone Planning Group LLC increasing its stake by 275% and Clal Insurance Enterprises Holdings Ltd raising theirs by 441.7% during the same quarter.
• Recent analyst ratings for Synopsys show strong confidence, with twelve analysts giving it a "Buy" rating and price targets ranging from $610 to $715, reflecting positive expectations despite some near-term stock fluctuations.

CreativeOne Wealth LLC lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 26.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,388 shares of the semiconductor company's stock after buying an additional 707 shares during the period. CreativeOne Wealth LLC's holdings in Synopsys were worth $1,453,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of SNPS. Quadcap Wealth Management LLC purchased a new stake in shares of Synopsys in the first quarter valued at approximately $458,000. FORA Capital LLC increased its position in Synopsys by 280.6% during the first quarter. FORA Capital LLC now owns 1,937 shares of the semiconductor company's stock worth $831,000 after purchasing an additional 1,428 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Synopsys during the first quarter worth about $6,979,000. Thematics Asset Management raised its position in shares of Synopsys by 9.7% during the 1st quarter. Thematics Asset Management now owns 154,664 shares of the semiconductor company's stock valued at $66,328,000 after buying an additional 13,700 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Synopsys by 328.6% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 660 shares of the semiconductor company's stock valued at $283,000 after acquiring an additional 506 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Stock Down 0.2%

Shares of NASDAQ:SNPS traded down $1.47 on Wednesday, hitting $590.55. 541,955 shares of the company's stock were exchanged, compared to its average volume of 1,402,296. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. The company has a market capitalization of $91.63 billion, a PE ratio of 42.63, a P/E/G ratio of 3.97 and a beta of 1.14. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The firm's 50-day moving average is $587.98 and its 200 day moving average is $504.43.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the sale, the chief executive officer owned 71,615 shares in the company, valued at approximately $42,181,951.15. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the completion of the sale, the executive owned 1,485 shares of the company's stock, valued at approximately $699,746.85. This represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,686 shares of company stock worth $14,490,903. 0.62% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. KeyCorp increased their price target on Synopsys from $610.00 to $660.00 and gave the stock an "overweight" rating in a report on Wednesday. Needham & Company LLC reissued a "buy" rating and issued a $660.00 price target (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. Morgan Stanley reiterated an "overweight" rating and issued a $715.00 target price (up previously from $540.00) on shares of Synopsys in a report on Monday, August 11th. Wells Fargo & Company reaffirmed a "positive" rating on shares of Synopsys in a research note on Wednesday, August 27th. Finally, Bank of America lifted their price objective on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $638.21.

Synopsys Company 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.