Avantax Planning Partners Inc. Buys 204 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Avantax Planning Partners Inc. raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 23.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,082 shares of the semiconductor company’s stock after buying an additional 204 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Synopsys were worth $525,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Parnassus Investments LLC acquired a new stake in Synopsys during the third quarter worth approximately $633,469,000. Edgewood Management LLC grew its position in shares of Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after purchasing an additional 487,025 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Synopsys during the fourth quarter worth about $199,065,000. Proficio Capital Partners LLC boosted its holdings in shares of Synopsys by 71,578.5% in the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock worth $187,517,000 after purchasing an additional 385,808 shares in the last quarter. Finally, Impax Asset Management Group plc grew its position in Synopsys by 120.2% during the 3rd 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 during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Performance

Shares of SNPS stock opened at $430.68 on Wednesday. The company has a market capitalization of $66.59 billion, a P/E ratio of 29.66, a PEG ratio of 3.23 and a beta of 1.16. The stock has a 50 day moving average price of $498.98 and a two-hundred day moving average price of $510.06. Synopsys, Inc. has a fifty-two week low of $427.30 and a fifty-two week high of $624.80.

Insider Buying and Selling at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Wells Fargo & Company lowered their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Piper Sandler cut their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. 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 research note on Monday, February 24th. Finally, Robert W. Baird dropped their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

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.