PFG Advisors Boosts Stake in Synopsys, Inc. (NASDAQ:SNPS)

PFG Advisors grew its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,709 shares of the semiconductor company's stock after acquiring an additional 723 shares during the period. PFG Advisors' holdings in Synopsys were worth $2,771,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Kieckhefer Group LLC acquired a new position in shares of Synopsys in the fourth quarter worth about $27,000. Whipplewood Advisors LLC acquired a new position in shares of Synopsys in the fourth quarter worth about $33,000. Sierra Ocean LLC acquired a new position in shares of Synopsys in the fourth quarter worth about $39,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Synopsys in the fourth quarter worth about $51,000. Finally, Versant Capital Management Inc raised its position in shares of Synopsys by 109.3% in the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock worth $55,000 after acquiring an additional 59 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Trading Down 0.9 %

SNPS stock traded down $3.88 during mid-day trading on Thursday, reaching $428.58. The company's stock had a trading volume of 1,541,351 shares, compared to its average volume of 1,230,743. The stock has a market cap of $66.27 billion, a PE ratio of 29.52, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a fifty-two week low of $425.73 and a fifty-two week high of $624.80. The company's 50 day moving average is $496.84 and its two-hundred day moving average is $508.96.

Remove Ads

Analyst Ratings Changes

A number of research analysts have weighed in on SNPS shares. Robert W. Baird decreased their price objective 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. Needham & Company LLC restated a "buy" rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Wells Fargo & Company reduced their price target 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. Piper Sandler reduced their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Finally, 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. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $638.58.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 70,922 shares of the company's stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the 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 approximately $51,850,925.82. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock valued at $22,794,835 in the last 90 days. Company insiders own 0.62% of the company's stock.

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.