Peloton Wealth Strategists Has $1.35 Million Stake in Synopsys, Inc. $SNPS

Peloton Wealth Strategists raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 7.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,153 shares of the semiconductor company’s stock after purchasing an additional 225 shares during the period. Peloton Wealth Strategists’ holdings in Synopsys were worth $1,352,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC increased its stake in shares of Synopsys by 275.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 44 shares in the last quarter. Saudi Central Bank bought a new stake in shares of Synopsys in the 1st quarter valued at $26,000. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Synopsys by 441.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 53 shares in the last quarter. Ameriflex Group Inc. bought a new stake in shares of Synopsys in the 4th quarter valued at $29,000. Finally, WPG Advisers LLC bought a new stake in shares of Synopsys in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the sale, the chief executive officer owned 71,615 shares in the company, valued at $42,181,951.15. This represents a 13.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the company’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the sale, the executive owned 1,485 shares of the company’s stock, valued at approximately $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS stock opened at $609.08 on Tuesday. The firm has a market capitalization of $94.50 billion, a PE ratio of 43.98, a price-to-earnings-growth ratio of 3.93 and a beta of 1.14. The firm has a fifty day simple moving average of $596.04 and a two-hundred day simple moving average of $507.14. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $651.73.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price objective (up previously from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. Rosenblatt Securities lifted their price objective on shares of Synopsys from $625.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, July 25th. KeyCorp lifted their price objective on shares of Synopsys from $610.00 to $660.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Bank of America lifted their price objective on shares of Synopsys from $575.00 to $625.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company restated a “positive” rating on shares of Synopsys in a research note on Wednesday, August 27th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $638.21.

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.