Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 34.0% in the fourth quarter, HoldingsChannel reports. The firm owned 434 shares of the semiconductor company’s stock after purchasing an additional 110 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Synopsys were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in Synopsys during the 3rd quarter valued at $467,000. OneDigital Investment Advisors LLC raised its stake in Synopsys by 28.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,581 shares of the semiconductor company’s stock valued at $1,307,000 after acquiring an additional 575 shares in the last quarter. Empowered Funds LLC raised its stake in Synopsys by 13.2% during the 3rd quarter. Empowered Funds LLC now owns 7,254 shares of the semiconductor company’s stock valued at $3,673,000 after acquiring an additional 844 shares in the last quarter. Mizuho Securities USA LLC raised its stake in Synopsys by 171.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 31,888 shares of the semiconductor company’s stock valued at $16,148,000 after acquiring an additional 20,131 shares in the last quarter. Finally, Concord Asset Management LLC VA raised its stake in Synopsys by 12.4% during the 3rd quarter. Concord Asset Management LLC VA now owns 1,608 shares of the semiconductor company’s stock valued at $814,000 after acquiring an additional 178 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction on 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 transaction, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock valued at $22,794,835 over the last three months. Company insiders own 0.62% of the company’s stock.

Synopsys Stock Up 4.1 %

Shares of Synopsys stock opened at $446.23 on Monday. The stock’s fifty day moving average is $495.89 and its 200-day moving average is $508.30. The firm has a market capitalization of $69.00 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12-month low of $425.73 and a 12-month high of $624.80.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SNPS. Redburn Atlantic began coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. Robert W. Baird dropped their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Wells Fargo & Company dropped their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley dropped their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.