LPL Financial LLC Increases Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

LPL Financial LLC lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 33.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,967 shares of the semiconductor company’s stock after buying an additional 32,699 shares during the period. LPL Financial LLC’s holdings in Synopsys were worth $63,081,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Caprock Group LLC lifted its stake in shares of Synopsys by 0.5% in the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock valued at $1,803,000 after purchasing an additional 20 shares during the period. Compagnie Lombard Odier SCmA increased its holdings in Synopsys by 1.1% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock valued at $898,000 after buying an additional 20 shares in the last quarter. Edge Capital Group LLC lifted its position in shares of Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock valued at $791,000 after acquiring an additional 20 shares during the period. Barden Capital Management Inc. boosted its stake in shares of Synopsys by 1.1% during the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock worth $889,000 after acquiring an additional 20 shares in the last quarter. Finally, Resurgent Financial Advisors LLC grew its holdings in shares of Synopsys by 2.8% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock worth $410,000 after acquiring an additional 22 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Price Performance

NASDAQ SNPS opened at $449.90 on Thursday. The company has a market cap of $69.56 billion, a P/E ratio of 30.98, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80. The company has a 50-day moving average of $488.79 and a 200-day moving average of $505.87.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SNPS. Redburn Atlantic initiated coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. Morgan Stanley lowered their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Wells Fargo & Company cut their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Finally, 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, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $638.58.

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.