1776 Wealth LLC Buys 1,051 Shares of Synopsys, Inc. (NASDAQ:SNPS)

1776 Wealth LLC boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 27.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,939 shares of the semiconductor company’s stock after purchasing an additional 1,051 shares during the period. Synopsys comprises 1.0% of 1776 Wealth LLC’s portfolio, making the stock its 21st largest holding. 1776 Wealth LLC’s holdings in Synopsys were worth $2,397,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new stake in Synopsys during the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC purchased a new stake in Synopsys during the fourth quarter valued at approximately $33,000. Sierra Ocean LLC purchased a new stake in Synopsys during the fourth quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. purchased a new stake in Synopsys during the fourth quarter valued at approximately $51,000. Finally, Versant Capital Management Inc increased its holdings in Synopsys by 109.3% during the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 59 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock valued at $22,794,835 in the last three months. Corporate insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of research reports. Piper Sandler reduced their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Morgan Stanley reduced their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Finally, Robert W. Baird reduced their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $432.46 on Thursday. The company has a market cap of $66.87 billion, a P/E ratio of 29.78, a P/E/G ratio of 3.23 and a beta of 1.16. The firm’s fifty day moving average is $497.92 and its two-hundred day moving average is $509.52. Synopsys, Inc. has a 52-week low of $427.30 and a 52-week high of $624.80.

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.