Bogart Wealth LLC Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Bogart Wealth LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,622 shares of the semiconductor company’s stock, valued at approximately $6,126,000.

A number of other hedge funds have also modified their holdings of the business. Kieckhefer Group LLC purchased a new stake in Synopsys during the 4th quarter valued at about $27,000. Tsfg LLC boosted its holdings in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the last quarter. Hazlett Burt & Watson Inc. grew its position in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Princeton Global Asset Management LLC acquired a new stake in shares of Synopsys in the third quarter valued at approximately $44,000. Finally, nVerses Capital LLC purchased a new position in Synopsys during the third quarter worth approximately $51,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Up 3.6 %

Shares of NASDAQ SNPS opened at $528.29 on Friday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The business’s 50 day moving average is $510.41 and its two-hundred day moving average is $518.16. The firm has a market cap of $81.66 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 3.49 and a beta of 1.12.

Insider Activity at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNPS. Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Loop Capital began coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Wednesday, December 4th. Finally, Robert W. Baird reduced their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

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.