Paladin Wealth LLC Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Paladin Wealth LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 863 shares of the semiconductor company's stock, valued at approximately $419,000.

A number of other large investors also recently modified their holdings of the company. Brookstone Capital Management boosted its position in Synopsys by 25.5% during the third quarter. Brookstone Capital Management now owns 935 shares of the semiconductor company's stock valued at $473,000 after buying an additional 190 shares during the period. Gateway Investment Advisers LLC boosted its holdings in Synopsys by 9.8% during the 3rd quarter. Gateway Investment Advisers LLC now owns 772 shares of the semiconductor company's stock valued at $391,000 after acquiring an additional 69 shares during the period. Exchange Traded Concepts LLC grew its position in Synopsys by 170.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 7,739 shares of the semiconductor company's stock worth $3,919,000 after acquiring an additional 4,873 shares during the last quarter. Compagnie Lombard Odier SCmA increased its stake in Synopsys by 35.8% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 1,830 shares of the semiconductor company's stock worth $927,000 after purchasing an additional 482 shares during the period. Finally, Redhawk Wealth Advisors Inc. lifted its position in Synopsys by 3.2% in the third quarter. Redhawk Wealth Advisors Inc. now owns 5,797 shares of the semiconductor company's stock valued at $2,936,000 after purchasing an additional 182 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction on Wednesday, January 15th. The stock was 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 of the company's stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Robert W. Baird cut their target price on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. Piper Sandler decreased their price objective on shares of Synopsys from $670.00 to $655.00 and set an "overweight" rating on the stock in a research report on Friday, December 6th. Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They issued a "buy" rating and a $675.00 target price on the stock. Wells Fargo & Company reduced their price target on Synopsys from $570.00 to $540.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. Finally, Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $641.82.

Synopsys Price Performance

NASDAQ SNPS traded down $2.19 during trading hours on Tuesday, reaching $529.14. 431,536 shares of the company's stock traded hands, compared to its average volume of 1,004,382. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The firm has a 50-day simple moving average of $512.80 and a 200 day simple moving average of $518.34. The firm has a market cap of $81.79 billion, a PE ratio of 36.44, a PEG ratio of 3.49 and a beta of 1.12.

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.