WealthPlan Investment Management LLC Raises Position in Synopsys, Inc. (NASDAQ:SNPS)

WealthPlan Investment Management LLC grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,978 shares of the semiconductor company’s stock after buying an additional 173 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Synopsys were worth $1,445,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SNPS. Kieckhefer Group LLC purchased a new position in shares of Synopsys in the fourth quarter worth $27,000. Hazlett Burt & Watson Inc. increased its holdings in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. Princeton Global Asset Management LLC purchased a new stake in shares of Synopsys in the 3rd quarter worth about $44,000. nVerses Capital LLC bought a new stake in shares of Synopsys during the 3rd quarter valued at about $51,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Synopsys during the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the topic of a number of analyst reports. Mizuho assumed coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Wednesday, December 4th. Piper Sandler decreased their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Finally, Robert W. Baird dropped their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Synopsys has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by company insiders.

Synopsys Price Performance

NASDAQ:SNPS opened at $522.53 on Friday. The company has a market cap of $80.77 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The stock’s 50 day simple moving average is $510.67 and its two-hundred day simple moving average is $518.23.

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.