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:SNPSFree Report) 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.

View Our Latest Stock Analysis on SNPS

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

(Free Report)

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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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