WealthShield Partners LLC Acquires Shares of 3,222 Synopsys, Inc. (NASDAQ:SNPS)

WealthShield Partners LLC acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,222 shares of the semiconductor company’s stock, valued at approximately $1,564,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Waverton Investment Management Ltd increased its position in Synopsys by 21.4% in the 4th quarter. Waverton Investment Management Ltd now owns 402,968 shares of the semiconductor company’s stock valued at $195,474,000 after acquiring an additional 71,143 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Synopsys by 143.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 13,178 shares of the semiconductor company’s stock valued at $6,396,000 after purchasing an additional 7,757 shares during the last quarter. World Equity Group Inc. bought a new position in shares of Synopsys in the 4th quarter valued at about $347,000. MONECO Advisors LLC bought a new position in shares of Synopsys in the 4th quarter valued at about $216,000. Finally, Howard Capital Management Inc. boosted its stake in shares of Synopsys by 2.8% in the 4th quarter. Howard Capital Management Inc. now owns 4,078 shares of the semiconductor company’s stock valued at $1,979,000 after purchasing an additional 113 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Synopsys stock opened at $474.84 on Monday. The company’s 50 day simple moving average is $510.21 and its 200 day simple moving average is $517.67. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The firm has a market capitalization of $73.40 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 3.23 and a beta of 1.12.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Wednesday, December 4th. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Robert W. Baird reduced their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, Piper Sandler reduced their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

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.