WealthPlan Investment Management LLC Purchases 173 Shares of Synopsys, Inc. (NASDAQ:SNPS)

WealthPlan Investment Management LLC raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,978 shares of the semiconductor company’s stock after buying an additional 173 shares during the period. WealthPlan Investment Management LLC’s holdings in Synopsys were worth $1,445,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNPS. Parnassus Investments LLC acquired a new position in Synopsys during the 3rd quarter worth approximately $633,469,000. Edgewood Management LLC boosted its holdings in shares of Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after acquiring an additional 487,025 shares during the period. Van ECK Associates Corp grew its position in shares of Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after acquiring an additional 335,993 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Synopsys by 120.2% in the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after acquiring an additional 267,836 shares during the period. Finally, 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 purchasing an additional 257,526 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction dated 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 transaction, the executive now 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Down 1.1 %

NASDAQ:SNPS opened at $522.53 on Friday. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The firm has a market capitalization of $80.77 billion, a price-to-earnings ratio of 35.99, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12. The stock has a fifty day simple moving average of $510.67 and a 200 day simple moving average of $518.23.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Wells Fargo & Company reduced their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Piper Sandler lowered their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Finally, Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $641.82.

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.