Strategic Financial Concepts LLC Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Strategic Financial Concepts LLC purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, Holdings Channel reports. The firm purchased 52,422 shares of the semiconductor company’s stock, valued at approximately $25,444,000.

Other large investors also recently bought and sold shares of the company. Kieckhefer Group LLC acquired a new position in shares of Synopsys during the 4th quarter worth approximately $27,000. Tsfg LLC lifted its position in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Princeton Global Asset Management LLC purchased a new stake in Synopsys in the 3rd quarter valued at $44,000. Finally, nVerses Capital LLC acquired a new stake in shares of Synopsys in the 3rd quarter worth $51,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the subject of a number of analyst reports. Piper Sandler dropped their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Robert W. Baird cut their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Thursday, December 5th. Berenberg Bank assumed coverage on Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Finally, Loop Capital began coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s 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 transaction, the executive now owns 1,460 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Trading Down 1.4 %

Shares of NASDAQ SNPS opened at $525.82 on Friday. The stock has a market capitalization of $81.28 billion, a PE ratio of 36.21, a PEG ratio of 3.44 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The stock has a fifty day simple moving average of $514.15 and a 200-day simple moving average of $519.55.

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.