Diversify Wealth Management LLC Acquires 1,469 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Diversify Wealth Management LLC grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 221.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,133 shares of the semiconductor company’s stock after purchasing an additional 1,469 shares during the period. Diversify Wealth Management LLC’s holdings in Synopsys were worth $1,051,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SNPS. AE Wealth Management LLC boosted its position in Synopsys by 4.8% in the 2nd quarter. AE Wealth Management LLC now owns 3,678 shares of the semiconductor company’s stock valued at $2,189,000 after buying an additional 169 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Synopsys by 1.7% in the second quarter. Pacer Advisors Inc. now owns 20,614 shares of the semiconductor company’s stock valued at $12,267,000 after purchasing an additional 338 shares during the period. Summit Trail Advisors LLC grew its stake in Synopsys by 37.8% in the second quarter. Summit Trail Advisors LLC now owns 1,061 shares of the semiconductor company’s stock worth $631,000 after purchasing an additional 291 shares in the last quarter. Fairscale Capital LLC purchased a new position in Synopsys during the 2nd quarter worth $51,000. Finally, Edge Capital Group LLC raised its position in Synopsys by 69.5% during the 2nd quarter. Edge Capital Group LLC now owns 1,200 shares of the semiconductor company’s stock valued at $714,000 after purchasing an additional 492 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SNPS has been the topic of several research reports. Rosenblatt Securities restated a “buy” rating and set a $635.00 price target on shares of Synopsys in a research note on Wednesday, December 4th. Redburn Atlantic started coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Robert W. Baird cut their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Finally, Mizuho initiated coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $641.82.

Synopsys Stock Performance

Synopsys stock opened at $526.70 on Tuesday. The stock has a market cap of $81.42 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 3.22 and a beta of 1.12. The stock has a 50-day moving average of $519.43 and a two-hundred day moving average of $525.54. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38.

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.