Lido Advisors LLC Grows Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Lido Advisors LLC grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 26.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,093 shares of the semiconductor company's stock after purchasing an additional 868 shares during the period. Lido Advisors LLC's holdings in Synopsys were worth $1,986,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Kieckhefer Group LLC purchased a new position in shares of Synopsys in the fourth quarter worth about $27,000. Whipplewood Advisors LLC acquired a new stake in Synopsys during the 4th quarter valued at approximately $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Synopsys during the 4th quarter valued at approximately $34,000. Sierra Ocean LLC acquired a new stake in shares of Synopsys in the fourth quarter worth $39,000. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insiders Place Their Bets

In other news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction that occurred on 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 of the company's stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 70,922 shares of the company's stock, 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. 0.62% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on SNPS shares. Piper Sandler cut their price objective on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Wells Fargo & Company lowered their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Morgan Stanley cut 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, KeyCorp reduced their target price on Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $613.43.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded down $2.75 during midday trading on Tuesday, hitting $474.66. The company's stock had a trading volume of 454,963 shares, compared to its average volume of 1,094,639. The company has a market cap of $73.39 billion, a P/E ratio of 32.80, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The business's 50 day simple moving average is $434.75 and its 200 day simple moving average is $489.54. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month 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.