GeoWealth Management LLC Purchases 562 Shares of Synopsys, Inc. (NASDAQ:SNPS)

GeoWealth Management LLC boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 79.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,266 shares of the semiconductor company’s stock after acquiring an additional 562 shares during the quarter. GeoWealth Management LLC’s holdings in Synopsys were worth $614,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock worth $7,029,360,000 after buying an additional 120,575 shares during the period. Geode Capital Management LLC increased its stake in Synopsys by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock worth $1,625,230,000 after purchasing an additional 75,298 shares during the period. Pictet Asset Management Holding SA lifted its position in shares of Synopsys by 3.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,758,759 shares of the semiconductor company’s stock worth $853,631,000 after purchasing an additional 60,121 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Synopsys by 5.2% during the fourth quarter. Invesco Ltd. now owns 1,381,496 shares of the semiconductor company’s stock valued at $670,523,000 after purchasing an additional 68,766 shares during the period. Finally, Norges Bank bought a new position in shares of Synopsys in the fourth quarter worth about $583,608,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SNPS shares. KeyCorp lowered their price objective on shares of Synopsys from $690.00 to $555.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. 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. Redburn Atlantic initiated coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Mizuho decreased their price objective on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $618.31.

Insiders Place Their Bets

In other news, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the company’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 transaction, the chief executive officer now directly owns 70,922 shares in the company, 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.

Synopsys Stock Down 0.6 %

Shares of Synopsys stock opened at $413.32 on Monday. The company has a market cap of $63.91 billion, a P/E ratio of 28.47, a PEG ratio of 3.23 and a beta of 1.23. The firm’s 50 day moving average price is $446.35 and its 200-day moving average price is $495.09. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80.

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.