Monetary Management Group Inc. Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Monetary Management Group Inc. boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 32.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,065 shares of the semiconductor company's stock after purchasing an additional 745 shares during the quarter. Monetary Management Group Inc.'s holdings in Synopsys were worth $1,488,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNPS. Kieckhefer Group LLC bought a new position in Synopsys during the fourth quarter worth $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Synopsys in the 4th quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Synopsys during the 4th quarter worth approximately $34,000. Sierra Ocean LLC acquired a new stake in Synopsys in the fourth quarter valued at approximately $39,000. Finally, Hazlett Burt & Watson Inc. increased its holdings in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 20 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SNPS has been the subject of several research reports. Morgan Stanley reduced their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Wells Fargo & Company reduced their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 target price on the stock. KeyCorp cut their price target on Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, Piper Sandler dropped their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $618.31.

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Synopsys Price Performance

NASDAQ:SNPS traded down $10.86 during trading hours on Wednesday, hitting $414.79. The stock had a trading volume of 546,541 shares, compared to its average volume of 1,089,824. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The firm has a market capitalization of $64.13 billion, a price-to-earnings ratio of 28.57, a P/E/G ratio of 3.23 and a beta of 1.23. The company has a 50 day simple moving average of $453.23 and a two-hundred day simple moving average of $496.88.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was 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 in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

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.