White Knight Strategic Wealth Advisors LLC bought a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,000 shares of the semiconductor company's stock, valued at approximately $485,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. HB Wealth Management LLC grew its holdings in shares of Synopsys by 2.0% during the 4th quarter. HB Wealth Management LLC now owns 3,172 shares of the semiconductor company's stock worth $1,540,000 after purchasing an additional 63 shares in the last quarter. Aaron Wealth Advisors LLC grew its holdings in shares of Synopsys by 27.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 647 shares of the semiconductor company's stock worth $314,000 after purchasing an additional 141 shares in the last quarter. Diversify Wealth Management LLC grew its holdings in shares of Synopsys by 221.2% during the 4th quarter. Diversify Wealth Management LLC now owns 2,133 shares of the semiconductor company's stock worth $1,051,000 after purchasing an additional 1,469 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of Synopsys during the 4th quarter worth approximately $877,000. Finally, Aurora Investment Managers LLC. lifted its position in shares of Synopsys by 2.3% during the 4th quarter. Aurora Investment Managers LLC. now owns 1,397 shares of the semiconductor company's stock worth $678,000 after buying an additional 32 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently commented on SNPS shares. KeyCorp set a $575.00 target price on Synopsys and gave the stock an "overweight" rating in a research report on Tuesday. Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Stifel Nicolaus set a $550.00 target price on Synopsys in a research report on Monday, April 28th. Finally, Bank of America cut their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $614.86.
Check Out Our Latest Stock Report on Synopsys
Insider Buying and Selling at Synopsys
In other news, 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 sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the sale, the chief executive officer now 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.
Synopsys Stock Down 0.9%
SNPS traded down $4.63 during trading on Friday, hitting $498.85. The company's stock had a trading volume of 670,031 shares, compared to its average volume of 1,103,769. The firm's 50 day moving average price is $450.97 and its two-hundred day moving average price is $488.91. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80. The stock has a market capitalization of $77.13 billion, a price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.
About Synopsys
(
Free Report)
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.
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