Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 18.5% in the fourth quarter, Holdings Channel reports. The firm owned 563 shares of the semiconductor company’s stock after buying an additional 88 shares during the period. Kingsview Wealth Management LLC’s holdings in Synopsys were worth $273,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Davidson Capital Management Inc. boosted its holdings in Synopsys by 33,828.6% during the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after acquiring an additional 4,736 shares during the period. Peloton Wealth Strategists boosted its holdings in Synopsys by 221.2% during the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after acquiring an additional 1,984 shares during the period. Swiss National Bank boosted its holdings in Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after acquiring an additional 3,200 shares during the period. Parnassus Investments LLC purchased a new position in Synopsys during the 3rd quarter valued at about $633,469,000. Finally, Harvest Portfolios Group Inc. boosted its holdings in Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after acquiring an additional 1,496 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Trading Down 1.1 %

NASDAQ:SNPS opened at $522.53 on Friday. The firm has a market cap of $80.77 billion, a P/E ratio of 35.99, a PEG ratio of 3.49 and a beta of 1.12. The stock’s 50 day simple moving average is $510.67 and its 200-day simple moving average is $518.23. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred on Wednesday, January 15th. The stock was 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 $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SNPS shares. Mizuho started coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective for the company. Piper Sandler decreased their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. Robert W. Baird decreased 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. Finally, Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $641.82.

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.