Peloton Wealth Strategists Grows Stake in Synopsys, Inc. (NASDAQ:SNPS)

Peloton Wealth Strategists lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,928 shares of the semiconductor company’s stock after purchasing an additional 47 shares during the period. Peloton Wealth Strategists’ holdings in Synopsys were worth $1,421,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Kieckhefer Group LLC purchased a new stake in shares of Synopsys during the fourth quarter worth about $27,000. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys during the fourth quarter worth about $33,000. Hazlett Burt & Watson Inc. increased its stake in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Synopsys during the 4th quarter valued at about $39,000. Finally, Princeton Global Asset Management LLC purchased a new stake in Synopsys during the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SNPS. Robert W. Baird dropped their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Morgan Stanley decreased their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday. Finally, Piper Sandler decreased their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the 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 sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS stock opened at $454.71 on Friday. The firm’s 50 day moving average price is $506.84 and its 200-day moving average price is $516.13. Synopsys, Inc. has a one year low of $454.05 and a one year high of $624.80. The firm has a market cap of $70.29 billion, a P/E ratio of 31.32, a P/E/G ratio of 3.23 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.