Truist Financial Corp Acquires 413 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Truist Financial Corp increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,766 shares of the semiconductor company’s stock after purchasing an additional 413 shares during the period. Truist Financial Corp’s holdings in Synopsys were worth $9,108,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SNPS. Kieckhefer Group LLC bought a new position in shares of Synopsys during the 4th quarter valued at about $27,000. Hazlett Burt & Watson Inc. raised its position in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Synopsys in the 4th quarter valued at approximately $39,000. Princeton Global Asset Management LLC acquired a new stake in Synopsys in the 3rd quarter valued at approximately $44,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Synopsys in the 4th quarter valued at approximately $51,000. Institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SNPS shares. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. Redburn Atlantic initiated coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Wells Fargo & Company lowered their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. Finally, Piper Sandler lowered their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by insiders.

Synopsys Trading Down 3.9 %

SNPS stock opened at $474.84 on Friday. The firm has a market capitalization of $73.40 billion, a PE ratio of 32.70, a PEG ratio of 3.28 and a beta of 1.12. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The business’s 50 day simple moving average is $510.88 and its 200 day simple moving average is $517.44.

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.