Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 5.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,093 shares of the semiconductor company’s stock after purchasing an additional 296 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Synopsys were worth $2,957,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. Envestnet Asset Management Inc. boosted its position in Synopsys by 3.3% during the second quarter. Envestnet Asset Management Inc. now owns 164,569 shares of the semiconductor company’s stock worth $97,929,000 after acquiring an additional 5,236 shares during the last quarter. Rathbones Group PLC boosted its holdings in shares of Synopsys by 16.3% during the 2nd quarter. Rathbones Group PLC now owns 707 shares of the semiconductor company’s stock worth $421,000 after purchasing an additional 99 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Synopsys by 16.8% in the second quarter. Dimensional Fund Advisors LP now owns 303,784 shares of the semiconductor company’s stock valued at $180,779,000 after purchasing an additional 43,785 shares in the last quarter. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Synopsys in the second quarter valued at approximately $203,000. Finally, Axxcess Wealth Management LLC lifted its position in Synopsys by 8.8% during the second quarter. Axxcess Wealth Management LLC now owns 4,386 shares of the semiconductor company’s stock worth $2,610,000 after buying an additional 356 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNPS. Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. Wells Fargo & Company cut their price objective on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday. Loop Capital initiated coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Mizuho assumed coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target for the company. Finally, Piper Sandler reduced their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Stock Up 3.4 %

SNPS opened at $507.19 on Thursday. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The business has a fifty day simple moving average of $522.21 and a 200-day simple moving average of $527.43. The firm has a market cap of $78.40 billion, a P/E ratio of 34.93, a P/E/G ratio of 3.22 and a beta of 1.12.

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.