Smith Salley Wealth Management Increases Position in Synopsys, Inc. (NASDAQ:SNPS)

Smith Salley Wealth Management lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,569 shares of the semiconductor company’s stock after buying an additional 193 shares during the quarter. Smith Salley Wealth Management’s holdings in Synopsys were worth $1,247,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Pacifica Partners Inc. acquired a new stake in shares of Synopsys in the 3rd quarter worth $25,000. Kieckhefer Group LLC purchased a new position in Synopsys during the fourth quarter worth about $27,000. Tsfg LLC lifted its position in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares during the period. Hazlett Burt & Watson Inc. boosted its holdings 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 purchasing an additional 20 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in Synopsys during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company’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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on SNPS shares. Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. Robert W. Baird decreased their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Finally, Mizuho initiated coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $641.82.

Synopsys Price Performance

Shares of Synopsys stock opened at $526.70 on Friday. The business has a 50 day moving average price of $519.43 and a 200 day moving average price of $526.11. The company has a market capitalization of $81.42 billion, a P/E ratio of 36.27, a P/E/G ratio of 3.22 and a beta of 1.12. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

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.