Wealthspire Advisors LLC Purchases 165 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Wealthspire Advisors LLC raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 41.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 562 shares of the semiconductor company’s stock after acquiring an additional 165 shares during the quarter. Wealthspire Advisors LLC’s holdings in Synopsys were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in Synopsys by 1.7% during the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after purchasing an additional 119,057 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Synopsys by 1.9% in the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after acquiring an additional 61,799 shares during the period. Edgewood Management LLC boosted its holdings in shares of Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after acquiring an additional 335,993 shares during the period. Finally, Parnassus Investments LLC bought a new position in shares of Synopsys in the third quarter worth $633,469,000. 85.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.62% of the company’s stock.

Synopsys Stock Down 3.3 %

NASDAQ SNPS opened at $454.71 on Friday. The stock’s 50-day simple moving average is $506.84 and its two-hundred day simple moving average is $516.13. Synopsys, Inc. has a twelve month low of $454.05 and a twelve month high of $624.80. The company has a market capitalization of $70.29 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 3.23 and a beta of 1.12.

Analyst Ratings Changes

A number of equities analysts have recently commented on SNPS shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Wells Fargo & Company cut their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday. Piper Sandler cut their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Loop Capital assumed coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $638.58.

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.