Inspire Advisors LLC Buys 333 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Inspire Advisors LLC grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 28.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,502 shares of the semiconductor company’s stock after buying an additional 333 shares during the quarter. Inspire Advisors LLC’s holdings in Synopsys were worth $729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SNPS. Kieckhefer Group LLC purchased a new stake in Synopsys during the fourth quarter valued at $27,000. Whipplewood Advisors LLC bought a new stake in shares of Synopsys during the 4th quarter valued at about $33,000. Sierra Ocean LLC purchased a new stake in shares of Synopsys during the 4th quarter valued at about $39,000. Newbridge Financial Services Group Inc. bought a new position in shares of Synopsys in the 4th quarter worth approximately $51,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Synopsys by 109.3% in the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after buying an additional 59 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SNPS. 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. Wells Fargo & Company lowered their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 47,909 shares of company stock worth $22,794,835. Corporate insiders own 0.62% of the company’s stock.

Synopsys Stock Up 0.2 %

Shares of Synopsys stock opened at $430.68 on Wednesday. The firm has a market cap of $66.59 billion, a PE ratio of 29.66, a P/E/G ratio of 3.23 and a beta of 1.16. The business has a 50-day moving average price of $498.98 and a 200 day moving average price of $510.06. Synopsys, Inc. has a twelve month low of $427.30 and a twelve month high of $624.80.

Synopsys 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.