Maridea Wealth Management LLC Acquires New Stake in Synopsys, Inc. (NASDAQ:SNPS)

Maridea Wealth Management LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,039 shares of the semiconductor company’s stock, valued at approximately $504,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. lifted its holdings in shares of Synopsys by 6.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,927 shares of the semiconductor company’s stock valued at $935,000 after buying an additional 119 shares during the period. Gardner Lewis Asset Management L P lifted its holdings in Synopsys by 6.8% in the 4th quarter. Gardner Lewis Asset Management L P now owns 9,798 shares of the semiconductor company’s stock valued at $4,756,000 after acquiring an additional 628 shares during the last quarter. DnB Asset Management AS boosted its position in shares of Synopsys by 9.3% during the 4th quarter. DnB Asset Management AS now owns 47,127 shares of the semiconductor company’s stock valued at $22,874,000 after purchasing an additional 4,003 shares in the last quarter. Level Four Advisory Services LLC grew its stake in shares of Synopsys by 46.1% in the 4th quarter. Level Four Advisory Services LLC now owns 773 shares of the semiconductor company’s stock worth $375,000 after purchasing an additional 244 shares during the last quarter. Finally, Premier Fund Managers Ltd raised its holdings in shares of Synopsys by 40.9% in the 4th quarter. Premier Fund Managers Ltd now owns 22,988 shares of the semiconductor company’s stock worth $11,193,000 after purchasing an additional 6,671 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

Shares of SNPS opened at $437.95 on Friday. The company has a market capitalization of $67.72 billion, a PE ratio of 30.16, a PEG ratio of 3.23 and a beta of 1.16. The company’s 50 day moving average price is $485.62 and its 200 day moving average price is $505.27. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80.

Analyst Ratings Changes

A number of brokerages recently weighed in on SNPS. Rosenblatt Securities restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Piper Sandler decreased 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. Robert W. Baird reduced their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Finally, Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and an average price target of $638.58.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 directly owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction 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 transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock valued at $22,794,835 in the last quarter. Company insiders own 0.62% of the company’s stock.

Synopsys 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.