Kesler Norman & Wride LLC Invests $315,000 in Synopsys, Inc. (NASDAQ:SNPS)

Kesler Norman & Wride LLC purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 650 shares of the semiconductor company's stock, valued at approximately $315,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new position in Synopsys during the 4th quarter valued at approximately $27,000. Whipplewood Advisors LLC bought a new stake in Synopsys during the 4th quarter valued at $33,000. Sierra Ocean LLC acquired a new position in Synopsys during the 4th quarter worth $39,000. Hazlett Burt & Watson Inc. boosted its stake in 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 purchasing an additional 20 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Synopsys in the fourth quarter valued at $51,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Trading Down 1.5 %

NASDAQ SNPS traded down $5.76 during trading hours on Monday, reaching $382.37. 1,523,670 shares of the company's stock were exchanged, compared to its average volume of 1,067,365. The firm has a fifty day moving average of $473.83 and a 200-day moving average of $503.14. Synopsys, Inc. has a one year low of $358.15 and a one year high of $624.80. The stock has a market cap of $59.12 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23.

Remove Ads

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the firm's 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 transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Geus Aart De sold 15,705 shares of the company'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 sale, the insider now directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock valued at $22,794,835 over the last ninety days. 0.62% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. 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. Needham & Company LLC restated a "buy" rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Piper Sandler reduced their price objective on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Morgan Stanley decreased their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Finally, Wells Fargo & Company cut their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Synopsys presently has an average rating of "Moderate Buy" and a consensus target price of $638.58.

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.