Chesapeake Wealth Management Trims Stake in Synopsys, Inc. (NASDAQ:SNPS)

Chesapeake Wealth Management cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 14.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,732 shares of the semiconductor company’s stock after selling 288 shares during the quarter. Chesapeake Wealth Management’s holdings in Synopsys were worth $841,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNPS. Aurora Investment Managers LLC. increased its stake in shares of Synopsys by 2.3% in the 4th quarter. Aurora Investment Managers LLC. now owns 1,397 shares of the semiconductor company’s stock worth $678,000 after purchasing an additional 32 shares in the last quarter. Trueblood Wealth Management LLC purchased a new position in shares of Synopsys during the fourth quarter valued at about $242,000. Diversify Advisory Services LLC purchased a new position in shares of Synopsys during the fourth quarter valued at about $877,000. Diversify Wealth Management LLC grew its position in shares of Synopsys by 221.2% during the fourth quarter. Diversify Wealth Management LLC now owns 2,133 shares of the semiconductor company’s stock valued at $1,051,000 after purchasing an additional 1,469 shares in the last quarter. Finally, Brady Martz Wealth Solutions LLC bought a new position in shares of Synopsys in the 4th quarter valued at about $279,000. 85.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SNPS. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Loop Capital initiated coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Piper Sandler decreased their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. Finally, 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 objective for the company. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and an average target price of $641.82.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $526.70 on Tuesday. The firm has a market cap of $81.42 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 3.45 and a beta of 1.12. The firm’s 50 day simple moving average is $519.43 and its 200-day simple moving average is $525.54. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38.

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.