Maridea Wealth Management LLC Makes New $504,000 Investment in Synopsys, Inc. (NASDAQ:SNPS)

Maridea Wealth Management LLC bought a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,039 shares of the semiconductor company's stock, valued at approximately $504,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Peloton Wealth Strategists boosted its stake in shares of Synopsys by 221.2% in the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company's stock valued at $1,459,000 after purchasing an additional 1,984 shares in the last quarter. Nordea Investment Management AB boosted its position in Synopsys by 15.9% during the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company's stock valued at $509,261,000 after buying an additional 143,284 shares during the period. James Hambro & Partners LLP boosted its position in Synopsys by 30.9% during the fourth quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company's stock valued at $97,725,000 after buying an additional 47,527 shares during the period. Orion Portfolio Solutions LLC grew its stake in shares of Synopsys by 53.2% during the third quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company's stock valued at $13,304,000 after buying an additional 9,124 shares during the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of Synopsys by 199.2% in the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock worth $7,627,000 after buying an additional 10,028 shares during the period. 85.47% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction 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 disclosure for this sale can be found here. In the last three months, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Rosenblatt Securities restated a "buy" rating and set a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Piper Sandler dropped their price objective on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. 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 note on Thursday, February 27th. Robert W. Baird dropped their price target on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a research report on Thursday, December 5th. Finally, Redburn Atlantic started coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $638.58.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded up $7.27 during midday trading on Tuesday, hitting $436.12. 799,257 shares of the company traded hands, compared to its average volume of 1,049,289. Synopsys, Inc. has a 12-month low of $423.08 and a 12-month high of $624.80. The firm has a market cap of $67.43 billion, a P/E ratio of 30.04, a P/E/G ratio of 3.23 and a beta of 1.16. The stock has a 50-day moving average price of $483.67 and a 200 day moving average price of $505.29.

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.