Callan Family Office LLC Purchases New Position in Synopsys, Inc. (NASDAQ:SNPS)

Callan Family Office LLC purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 2,566 shares of the semiconductor company’s stock, valued at approximately $1,245,000.

A number of other institutional investors also recently modified their holdings of SNPS. Kieckhefer Group LLC purchased a new stake in shares of Synopsys during the 4th quarter valued at approximately $27,000. Whipplewood Advisors LLC purchased a new stake in Synopsys in the 4th quarter worth approximately $33,000. Sierra Ocean LLC purchased a new stake in Synopsys in the 4th quarter worth approximately $39,000. Newbridge Financial Services Group Inc. purchased a new stake in Synopsys in the 4th quarter worth approximately $51,000. Finally, Versant Capital Management Inc lifted its stake in Synopsys by 109.3% in the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 59 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SNPS shares. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Piper Sandler lowered their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Robert W. Baird lowered their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, Loop Capital assumed coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the 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 directly owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Synopsys Stock Performance

SNPS stock opened at $450.88 on Friday. Synopsys, Inc. has a 52 week low of $429.77 and a 52 week high of $624.80. The firm’s fifty day moving average is $501.21 and its 200 day moving average is $512.34. The firm has a market cap of $69.72 billion, a P/E ratio of 31.05, a P/E/G ratio of 3.23 and a beta of 1.16.

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.