GWN Securities Inc. Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

GWN Securities Inc. acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, Holdings Channel.com reports. The firm acquired 390 shares of the semiconductor company’s stock, valued at approximately $189,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNPS. Parnassus Investments LLC bought a new stake in Synopsys in the 3rd quarter valued at about $633,469,000. Edgewood Management LLC increased its position in Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after buying an additional 487,025 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Synopsys in the 4th quarter valued at about $199,065,000. Proficio Capital Partners LLC increased its holdings in Synopsys by 71,578.5% during the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock worth $187,517,000 after purchasing an additional 385,808 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Synopsys by 32.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after purchasing an additional 257,526 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Piper Sandler decreased their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective for the company. Robert W. Baird decreased their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Wells Fargo & Company decreased their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Price Performance

NASDAQ:SNPS opened at $447.99 on Wednesday. The company has a market cap of $69.27 billion, a P/E ratio of 30.85, a P/E/G ratio of 3.23 and a beta of 1.16. The stock’s fifty day moving average price is $494.15 and its two-hundred day moving average price is $507.35. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80.

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now 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 document filed with the SEC, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the company’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 transaction, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock worth $22,794,835 over the last 90 days. 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.