Pinnacle Wealth Planning Services Inc. Decreases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Pinnacle Wealth Planning Services Inc. lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 23.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 661 shares of the semiconductor company’s stock after selling 205 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Synopsys were worth $321,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kieckhefer Group LLC purchased a new stake in Synopsys during the 4th quarter valued at $27,000. Whipplewood Advisors LLC purchased a new stake in Synopsys during the 4th quarter valued at $33,000. Sierra Ocean LLC purchased a new stake in Synopsys during the 4th quarter valued at $39,000. Newbridge Financial Services Group Inc. purchased a new stake in Synopsys in the fourth quarter worth $51,000. Finally, Versant Capital Management Inc increased its stake in Synopsys by 109.3% in the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm’s 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 sale, the chief executive officer now owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated 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 sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on SNPS. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Robert W. Baird reduced their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Loop Capital began coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Finally, Wells Fargo & Company reduced their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Trading Up 1.2 %

SNPS opened at $450.88 on Friday. Synopsys, Inc. has a 12-month low of $429.77 and a 12-month high of $624.80. The business’s fifty day simple moving average is $501.21 and its 200-day simple moving average is $512.34. The company has a market capitalization of $69.72 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 3.23 and a beta of 1.16.

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.