World Investment Advisors Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

World Investment Advisors boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 757.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,279 shares of the semiconductor company’s stock after purchasing an additional 3,780 shares during the quarter. World Investment Advisors’ holdings in Synopsys were worth $2,077,000 at the end of the most recent reporting period.

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

Synopsys Trading Down 7.1 %

Synopsys stock opened at $388.13 on Friday. Synopsys, Inc. has a 12-month low of $387.41 and a 12-month high of $624.80. The firm has a market capitalization of $60.01 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 3.23 and a beta of 1.16. The firm has a 50 day moving average of $473.83 and a 200 day moving average of $503.08.

Insiders Place Their Bets

In related news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated 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 sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock worth $22,794,835 over the last three months. 0.62% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on SNPS shares. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Piper Sandler decreased their price objective 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. Redburn Atlantic started coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Finally, Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.