NorthRock Partners LLC Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

NorthRock Partners LLC purchased a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,318 shares of the semiconductor company's stock, valued at approximately $640,000.

A number of other large investors have also added to or reduced their stakes in the company. Advisors Capital Management LLC boosted its stake 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 purchasing an additional 19 shares in the last quarter. Caprock Group LLC boosted its stake 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 purchasing an additional 20 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its stake 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 purchasing an additional 20 shares in the last quarter. Edge Capital Group LLC boosted its stake 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 purchasing an additional 20 shares in the last quarter. Finally, Barden Capital Management Inc. boosted its stake 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 purchasing an additional 20 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Synopsys Stock Up 0.3%

Shares of NASDAQ SNPS traded up $1.58 during midday trading on Monday, hitting $516.01. The stock had a trading volume of 848,602 shares, compared to its average volume of 1,106,873. The business's 50 day moving average is $444.44 and its 200-day moving average is $488.96. The company has a market cap of $79.79 billion, a P/E 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.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Geus Aart De sold 15,705 shares of the business's 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 transaction, the insider now directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. The trade was a 11.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SNPS. Rosenblatt Securities reaffirmed a "buy" rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Morgan Stanley lowered their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. KeyCorp lowered their price target on shares of Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Piper Sandler lowered their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Finally, Needham & Company LLC reissued a "buy" rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $613.43.

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.