Focus Partners Wealth Buys 14,167 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Focus Partners Wealth raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 60.7% in the 4th quarter, Holdings Channel reports. The firm owned 37,517 shares of the semiconductor company’s stock after acquiring an additional 14,167 shares during the period. Focus Partners Wealth’s holdings in Synopsys were worth $18,221,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Kieckhefer Group LLC purchased a new stake in shares of Synopsys during the 4th quarter valued at about $27,000. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys during the 4th quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Synopsys during the 4th quarter valued at about $34,000. Sierra Ocean LLC purchased a new stake in shares of Synopsys during the 4th quarter valued at about $39,000. Finally, Hazlett Burt & Watson Inc. raised its position in shares of 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 buying an additional 20 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SNPS shares. Wells Fargo & Company decreased their target price 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. Bank of America decreased their target price on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Mizuho reduced their price objective on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $613.43.

Synopsys Price Performance

Shares of SNPS stock opened at $482.69 on Monday. The company has a market capitalization of $74.63 billion, a P/E ratio of 33.24, a P/E/G ratio of 3.23 and a beta of 1.16. The company’s 50-day simple moving average is $437.18 and its two-hundred day simple moving average is $489.02. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. 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.