Sagespring Wealth Partners LLC Takes $606,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Sagespring Wealth Partners LLC purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,249 shares of the semiconductor company's stock, valued at approximately $606,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kieckhefer Group LLC bought a new stake in shares of Synopsys in the 4th quarter valued at $27,000. Whipplewood Advisors LLC acquired a new stake in Synopsys during the 4th quarter worth about $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Synopsys during the 4th quarter worth about $34,000. Sierra Ocean LLC bought a new position in shares of Synopsys in the 4th quarter worth about $39,000. Finally, Hazlett Burt & Watson Inc. grew its stake in Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 20 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Down 0.6 %

NASDAQ SNPS traded down $2.33 during trading hours on Friday, reaching $413.32. 1,002,399 shares of the company were exchanged, compared to its average volume of 1,091,650. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The business's 50 day simple moving average is $446.35 and its 200-day simple moving average is $495.11. The stock has a market capitalization of $63.91 billion, a P/E ratio of 28.47, a P/E/G ratio of 3.23 and a beta of 1.23.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were 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 owns 116,671 shares of the company's stock, 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. 0.62% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SNPS shares. KeyCorp reduced 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. Bank of America decreased their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday. Needham & Company LLC reissued a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a "buy" rating and a $600.00 price target for the company. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $618.31.

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.