SVB Wealth LLC Purchases New Stake in Synopsys, Inc. (NASDAQ:SNPS)

SVB Wealth LLC bought a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 767 shares of the semiconductor company’s stock, valued at approximately $372,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Peloton Wealth Strategists lifted its holdings in Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after acquiring an additional 1,984 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Synopsys by 0.7% in the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after purchasing an additional 3,200 shares during the last quarter. Parnassus Investments LLC acquired a new position in Synopsys during the 3rd quarter valued at approximately $633,469,000. Harvest Portfolios Group Inc. grew its stake in Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after buying an additional 1,496 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in Synopsys by 15.9% in the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after buying an additional 143,284 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Trading Up 0.5 %

Shares of NASDAQ SNPS opened at $445.47 on Wednesday. The company has a market capitalization of $68.88 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $429.77 and a twelve month high of $624.80. The firm has a 50-day moving average of $504.06 and a two-hundred day moving average of $514.02.

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, 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 disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SNPS. Robert W. Baird reduced their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Morgan Stanley dropped their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Needham & Company LLC reiterated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Finally, Loop Capital began coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $638.58.

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.