RBA Wealth Management LLC Buys 69 Shares of Synopsys, Inc. (NASDAQ:SNPS)

RBA Wealth Management LLC grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,195 shares of the semiconductor company’s stock after purchasing an additional 69 shares during the quarter. Synopsys makes up about 2.1% of RBA Wealth Management LLC’s holdings, making the stock its 13th largest position. RBA Wealth Management LLC’s holdings in Synopsys were worth $5,434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of SNPS. Rheos Capital Works Inc. lifted its stake in Synopsys by 22.5% in the fourth quarter. Rheos Capital Works Inc. now owns 49,000 shares of the semiconductor company’s stock valued at $23,783,000 after purchasing an additional 9,000 shares during the last quarter. Boston Trust Walden Corp increased its holdings in shares of Synopsys by 1.2% in the fourth quarter. Boston Trust Walden Corp now owns 2,474 shares of the semiconductor company’s stock worth $1,201,000 after purchasing an additional 30 shares during the period. Magnolia Capital Advisors LLC bought a new position in Synopsys in the fourth quarter valued at $245,000. Stock Yards Bank & Trust Co. bought a new position in Synopsys in the fourth quarter valued at $710,000. Finally, Greenleaf Trust boosted its holdings in Synopsys by 8.9% during the 4th quarter. Greenleaf Trust now owns 6,909 shares of the semiconductor company’s stock valued at $3,353,000 after acquiring an additional 566 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 1.0 %

SNPS stock opened at $520.25 on Tuesday. The company has a market cap of $80.42 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12. The business has a 50-day simple moving average of $516.26 and a 200 day simple moving average of $519.95. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SNPS shares. Berenberg Bank began coverage on Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Piper Sandler reduced their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Wells Fargo & Company dropped their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $641.82.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

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.