Nicolet Advisory Services LLC Boosts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Nicolet Advisory Services LLC boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 35.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 651 shares of the semiconductor company’s stock after acquiring an additional 169 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Synopsys were worth $321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Kieckhefer Group LLC acquired a new stake in shares of Synopsys during the fourth quarter worth about $27,000. Whipplewood Advisors LLC purchased a new stake in Synopsys during the 4th quarter worth approximately $33,000. Sierra Ocean LLC purchased a new position in Synopsys in the 4th quarter valued at approximately $39,000. Hazlett Burt & Watson Inc. boosted its position in Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 20 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Synopsys in the fourth quarter worth $51,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Geus Aart De sold 15,705 shares of the 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 sale, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This represents a 11.86 % 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

SNPS has been the subject of a number of recent research reports. Wells Fargo & Company decreased 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. Morgan Stanley lowered their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Piper Sandler reduced 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, February 27th. 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. Finally, Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Synopsys has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Stock Down 7.1 %

SNPS opened at $388.13 on Friday. Synopsys, Inc. has a 52 week low of $387.41 and a 52 week high of $624.80. The business’s 50 day moving average is $473.83 and its two-hundred day moving average is $503.08. The firm has a market cap of $60.01 billion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

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.