Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Boosted by Independent Advisor Alliance

Independent Advisor Alliance lifted its position in Synopsys, Inc. (NASDAQ:SNPS) by 21.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,547 shares of the semiconductor company’s stock after buying an additional 813 shares during the period. Independent Advisor Alliance’s holdings in Synopsys were worth $2,207,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SNPS. Impax Asset Management Group plc raised its position in Synopsys by 120.2% in the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after acquiring an additional 267,836 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its stake in shares of Synopsys by 4.3% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 1,121 shares of the semiconductor company’s stock worth $568,000 after purchasing an additional 46 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in shares of Synopsys by 5.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 4,505 shares of the semiconductor company’s stock worth $2,281,000 after purchasing an additional 214 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Synopsys during the third quarter valued at approximately $467,000. Finally, Savvy Advisors Inc. boosted its holdings in Synopsys by 11.4% during the third quarter. Savvy Advisors Inc. now owns 526 shares of the semiconductor company’s stock worth $266,000 after buying an additional 54 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

SNPS stock opened at $428.58 on Friday. The firm has a 50 day simple moving average of $496.84 and a 200 day simple moving average of $508.96. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80. The stock has a market cap of $66.27 billion, a P/E ratio of 29.52, a P/E/G ratio of 3.23 and a beta of 1.16.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several research reports. Piper Sandler dropped their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Wells Fargo & Company cut their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Finally, Morgan Stanley decreased their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Synopsys has an average rating of “Moderate Buy” and an average price target of $638.58.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of 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.

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.