Kesler Norman & Wride LLC Buys New Stake in Synopsys, Inc. (NASDAQ:SNPS)

Kesler Norman & Wride LLC purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, Holdings Channel.com reports. The firm purchased 650 shares of the semiconductor company’s stock, valued at approximately $315,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Kieckhefer Group LLC acquired a new stake in shares of Synopsys during the 4th quarter worth about $27,000. Whipplewood Advisors LLC purchased a new position in Synopsys in the fourth quarter valued at approximately $33,000. Sierra Ocean LLC acquired a new stake in Synopsys during the fourth quarter worth approximately $39,000. Hazlett Burt & Watson Inc. lifted its position in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after buying an additional 20 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Synopsys in the 4th quarter valued at $51,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Price Performance

NASDAQ:SNPS opened at $438.55 on Thursday. The firm has a market cap of $67.81 billion, a price-to-earnings ratio of 30.20, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1-year low of $422.65 and a 1-year high of $624.80. The firm’s fifty day moving average price is $479.67 and its 200 day moving average price is $504.45.

Analysts Set New Price Targets

Several brokerages recently commented on SNPS. Piper Sandler cut their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley cut their target price on 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 reduced their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Robert W. Baird reduced their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. 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, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Activity

In related news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction 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 directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock valued at $22,794,835 over the last quarter. Corporate insiders own 0.62% of the company’s stock.

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.