Pitti Group Wealth Management LLC Makes New $218,000 Investment in Synopsys, Inc. (NASDAQ:SNPS)

Pitti Group Wealth Management LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 450 shares of the semiconductor company’s stock, valued at approximately $218,000.

A number of other hedge funds have also recently modified their holdings of the business. GSA Capital Partners LLP purchased a new stake in Synopsys in the 3rd quarter worth $467,000. OneDigital Investment Advisors LLC grew its holdings in Synopsys by 28.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,581 shares of the semiconductor company’s stock valued at $1,307,000 after purchasing an additional 575 shares during the last quarter. Empowered Funds LLC grew its stake in Synopsys by 13.2% in the 3rd quarter. Empowered Funds LLC now owns 7,254 shares of the semiconductor company’s stock worth $3,673,000 after acquiring an additional 844 shares in the last quarter. Mizuho Securities USA LLC grew its stake in Synopsys by 171.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 31,888 shares of the semiconductor company’s stock worth $16,148,000 after acquiring an additional 20,131 shares in the last quarter. Finally, Concord Asset Management LLC VA grew its stake in Synopsys by 12.4% in the 3rd quarter. Concord Asset Management LLC VA now owns 1,608 shares of the semiconductor company’s stock worth $814,000 after acquiring an additional 178 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the sale, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock worth $22,794,835 in the last three months. Company insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. 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. Morgan Stanley reduced their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Finally, Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Price Performance

Synopsys stock opened at $446.23 on Monday. The stock has a market capitalization of $69.00 billion, a P/E ratio of 30.73, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12-month low of $425.73 and a 12-month high of $624.80. The firm’s 50-day moving average is $495.89 and its two-hundred day moving average is $508.30.

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.