WealthPLAN Partners LLC Has $895,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

WealthPLAN Partners LLC decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 15.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,845 shares of the semiconductor company’s stock after selling 349 shares during the period. WealthPLAN Partners LLC’s holdings in Synopsys were worth $895,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new stake in shares of Synopsys in the 4th quarter valued at $27,000. Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares in the last quarter. Princeton Global Asset Management LLC acquired a new stake in Synopsys in the third quarter valued at about $44,000. nVerses Capital LLC acquired a new position in Synopsys during the third quarter worth about $51,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Synopsys in the fourth quarter worth about $51,000. 85.47% of the stock is owned by institutional investors.

Synopsys Trading Down 1.1 %

NASDAQ SNPS opened at $522.53 on Friday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The firm has a market capitalization of $80.77 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12. The business’s 50-day moving average price is $510.67 and its two-hundred day moving average price is $518.23.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction 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 $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SNPS shares. Redburn Atlantic started coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Wednesday, December 4th. Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Mizuho assumed coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and an average target price of $641.82.

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.