CreativeOne Wealth LLC Grows Stake in Synopsys, Inc. (NASDAQ:SNPS)

CreativeOne Wealth LLC boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 19.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,681 shares of the semiconductor company’s stock after acquiring an additional 431 shares during the quarter. CreativeOne Wealth LLC’s holdings in Synopsys were worth $1,301,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SNPS. Kieckhefer Group LLC bought a new stake in Synopsys in the fourth quarter worth $27,000. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys in the fourth quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Synopsys in the 4th quarter worth about $34,000. Sierra Ocean LLC purchased a new position in shares of Synopsys during the 4th quarter worth about $39,000. Finally, Hazlett Burt & Watson Inc. grew its holdings in Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.

Synopsys Stock Performance

Shares of SNPS opened at $415.65 on Thursday. The stock has a market capitalization of $64.27 billion, a PE ratio of 28.63, a PEG ratio of 3.23 and a beta of 1.23. The company has a 50 day moving average price of $451.03 and a 200-day moving average price of $496.32. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80.

Analysts Set New Price Targets

Several analysts have issued reports on SNPS shares. Mizuho decreased their price objective on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday. Morgan Stanley dropped their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Bank of America lowered their target price on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Synopsys has a consensus rating of “Moderate Buy” and a consensus price target of $618.31.

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.