Axxcess Wealth Management LLC Lowers Position in Synopsys, Inc. (NASDAQ:SNPS)

Axxcess Wealth Management LLC lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 12.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,618 shares of the semiconductor company’s stock after selling 538 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Synopsys were worth $1,756,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SNPS. GSA Capital Partners LLP purchased a new position in shares of Synopsys in the third quarter worth $467,000. Pathstone Holdings LLC lifted its holdings in shares of Synopsys by 6.9% in the third quarter. Pathstone Holdings LLC now owns 19,078 shares of the semiconductor company’s stock worth $9,661,000 after buying an additional 1,225 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Synopsys by 44.3% in the third quarter. Meeder Asset Management Inc. now owns 114 shares of the semiconductor company’s stock worth $58,000 after buying an additional 35 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Synopsys by 6.4% in the third quarter. PNC Financial Services Group Inc. now owns 24,715 shares of the semiconductor company’s stock worth $12,515,000 after buying an additional 1,494 shares in the last quarter. Finally, Premier Fund Managers Ltd lifted its holdings in shares of Synopsys by 24.0% in the third quarter. Premier Fund Managers Ltd now owns 16,317 shares of the semiconductor company’s stock worth $8,377,000 after buying an additional 3,162 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s 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 transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,909 shares of company stock worth $22,794,835. Insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Piper Sandler reduced their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. One 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Trading Up 0.5 %

NASDAQ SNPS opened at $450.28 on Thursday. The company’s 50-day moving average price is $493.11 and its 200-day moving average price is $506.95. The stock has a market cap of $69.62 billion, a PE ratio of 31.01, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80.

Synopsys 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.