Prosperity Consulting Group LLC Buys 347 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Prosperity Consulting Group LLC raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,517 shares of the semiconductor company’s stock after purchasing an additional 347 shares during the period. Prosperity Consulting Group LLC’s holdings in Synopsys were worth $2,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. QVT Financial LP purchased a new position in shares of Synopsys in the 4th quarter worth $1,886,000. Oxford Asset Management LLP bought a new position in shares of Synopsys in the 4th quarter valued at about $1,000,000. Johnson Financial Group Inc. grew its position in Synopsys by 6.4% in the fourth quarter. Johnson Financial Group Inc. now owns 5,710 shares of the semiconductor company’s stock worth $3,000,000 after acquiring an additional 344 shares in the last quarter. Capital Analysts LLC increased its stake in Synopsys by 4.4% during the fourth quarter. Capital Analysts LLC now owns 6,717 shares of the semiconductor company’s stock worth $3,260,000 after acquiring an additional 285 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new stake in Synopsys during the fourth quarter valued at approximately $1,518,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several recent research reports. KeyCorp decreased their price target on Synopsys from $690.00 to $555.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Bank of America reduced their target price on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Wells Fargo & Company reduced their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Finally, Morgan Stanley dropped their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $618.31.

Synopsys Stock Up 1.8 %

Shares of Synopsys stock opened at $446.62 on Friday. The firm has a market cap of $69.06 billion, a PE ratio of 30.76, a P/E/G ratio of 3.23 and a beta of 1.23. The business has a 50-day moving average price of $436.66 and a 200 day moving average price of $492.23. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the firm’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 of the company’s stock, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. This trade represents a 11.86 % 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 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.