Level Four Advisory Services LLC Acquires 244 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Level Four Advisory Services LLC increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 46.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 773 shares of the semiconductor company’s stock after buying an additional 244 shares during the period. Level Four Advisory Services LLC’s holdings in Synopsys were worth $375,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNPS. Norges Bank bought a new position in Synopsys during the 4th quarter worth approximately $583,608,000. Raymond James Financial Inc. bought a new position in shares of Synopsys during the fourth quarter worth $199,065,000. Proficio Capital Partners LLC grew its holdings in shares of Synopsys by 71,578.5% in the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after buying an additional 385,808 shares during the period. Wellington Management Group LLP increased its position in shares of Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after buying an additional 257,526 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new stake in Synopsys during the 4th quarter worth $104,741,000. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Down 2.1 %

SNPS stock opened at $428.85 on Tuesday. Synopsys, Inc. has a twelve month low of $423.08 and a twelve month high of $624.80. The business has a 50 day moving average price of $483.67 and a two-hundred day moving average price of $505.29. The company has a market cap of $66.31 billion, a price-to-earnings ratio of 29.54, a P/E/G ratio of 3.23 and a beta of 1.16.

Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’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 sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on SNPS. Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Piper Sandler lowered their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Redburn Atlantic began coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Finally, Robert W. Baird dropped their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and an average price target of $638.58.

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.