462 Shares in Synopsys, Inc. (NASDAQ:SNPS) Acquired by Grant Private Wealth Management Inc

Grant Private Wealth Management Inc bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, Holdings Channel reports. The institutional investor bought 462 shares of the semiconductor company’s stock, valued at approximately $224,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Synopsys in the 4th quarter worth $583,608,000. Raymond James Financial Inc. acquired a new position in shares of Synopsys during the fourth quarter worth about $199,065,000. Proficio Capital Partners LLC boosted its position in shares of Synopsys by 71,578.5% during the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock worth $187,517,000 after buying an additional 385,808 shares during the period. Wellington Management Group LLP raised its position in 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 during the last quarter. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in Synopsys in the 4th quarter valued at approximately $104,741,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 0.6 %

Shares of NASDAQ SNPS opened at $438.55 on Thursday. The business’s 50 day moving average price is $479.67 and its two-hundred day moving average price is $504.45. The company has a market cap of $67.81 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a twelve month low of $420.47 and a twelve month high of $624.80.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of the 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 transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Robert W. Baird lowered their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Piper Sandler reduced their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Finally, Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $638.58.

Synopsys 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.