Congress Wealth Management LLC DE Buys 192 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Congress Wealth Management LLC DE lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,161 shares of the semiconductor company’s stock after acquiring an additional 192 shares during the period. Congress Wealth Management LLC DE’s holdings in Synopsys were worth $18,037,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SNPS. Citizens Financial Group Inc. RI acquired a new position in Synopsys during the third quarter worth $229,000. Raymond James Trust N.A. boosted its holdings in Synopsys by 22.9% during the third quarter. Raymond James Trust N.A. now owns 1,475 shares of the semiconductor company’s stock worth $747,000 after purchasing an additional 275 shares during the last quarter. Nwam LLC acquired a new position in Synopsys during the third quarter worth $202,000. Great Valley Advisor Group Inc. boosted its holdings in Synopsys by 34.0% during the third quarter. Great Valley Advisor Group Inc. now owns 8,837 shares of the semiconductor company’s stock worth $4,475,000 after purchasing an additional 2,243 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in Synopsys by 23.4% during the third quarter. Cerity Partners LLC now owns 47,954 shares of the semiconductor company’s stock worth $24,284,000 after purchasing an additional 9,078 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock valued at $22,794,835 over the last ninety days. 0.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SNPS has been the subject of several recent research reports. Piper Sandler reduced their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Morgan Stanley cut their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Wells Fargo & Company cut their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Price Performance

Shares of SNPS opened at $448.60 on Monday. The firm has a market capitalization of $69.36 billion, a PE ratio of 30.90, a PEG ratio of 3.23 and a beta of 1.16. The company’s 50-day moving average is $491.19 and its 200-day moving average is $506.44. Synopsys, Inc. has a fifty-two week low of $425.73 and a fifty-two week high of $624.80.

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.