Trueblood Wealth Management LLC Invests $242,000 in Synopsys, Inc. (NASDAQ:SNPS)

Trueblood Wealth Management LLC purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 499 shares of the semiconductor company's stock, valued at approximately $242,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its position in Synopsys by 1.7% during the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company's stock worth $3,518,637,000 after buying an additional 119,057 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Synopsys by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company's stock worth $1,656,005,000 after purchasing an additional 61,799 shares during the last quarter. Edgewood Management LLC grew its position in shares of Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company's stock valued at $1,554,540,000 after purchasing an additional 487,025 shares during the period. Van ECK Associates Corp increased its stake in Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company's stock valued at $791,923,000 after purchasing an additional 335,993 shares during the last quarter. Finally, Parnassus Investments LLC purchased a new position in Synopsys during the third quarter worth about $633,469,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Analyst Ratings Changes

SNPS has been the topic of several recent analyst reports. Loop Capital began coverage on shares of Synopsys in a report on Monday, November 11th. They set a "buy" rating and a $675.00 price objective on the stock. Redburn Atlantic began coverage on shares of Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 price target on the stock. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and issued a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Finally, Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Synopsys currently has a consensus rating of "Moderate Buy" and a consensus target price of $641.82.

Synopsys Stock Up 2.1 %

Shares of NASDAQ SNPS traded up $10.89 during trading on Monday, reaching $526.70. 1,240,502 shares of the stock were exchanged, compared to its average volume of 870,192. The business's 50-day moving average price is $519.43 and its 200 day moving average price is $525.54. The company has a market capitalization of $81.42 billion, a price-to-earnings ratio of 36.27, a price-to-earnings-growth ratio of 3.22 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now owns 1,460 shares of the company's stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by company insiders.

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.