Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by FFT Wealth Management LLC

FFT Wealth Management LLC boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,689 shares of the semiconductor company’s stock after acquiring an additional 310 shares during the period. FFT Wealth Management LLC’s holdings in Synopsys were worth $4,703,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new position in Synopsys in the 4th quarter valued at about $27,000. Hazlett Burt & Watson Inc. lifted its holdings in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Sierra Ocean LLC purchased a new position in Synopsys in the 4th quarter valued at about $39,000. Princeton Global Asset Management LLC purchased a new position in Synopsys in the 3rd quarter valued at about $44,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Synopsys during the 4th quarter worth about $51,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the 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 completion of the sale, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by corporate insiders.

Synopsys Stock Down 2.6 %

Shares of NASDAQ:SNPS opened at $457.95 on Wednesday. Synopsys, Inc. has a 52-week low of $457.00 and a 52-week high of $624.80. The company has a 50 day moving average of $508.09 and a two-hundred day moving average of $516.89. The company has a market capitalization of $70.79 billion, a price-to-earnings ratio of 31.54, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Piper Sandler cut their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and an average target price of $639.58.

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.