Peloton Wealth Strategists Grows Stake in Synopsys, Inc. (NASDAQ:SNPS)

Peloton Wealth Strategists grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,928 shares of the semiconductor company’s stock after purchasing an additional 47 shares during the quarter. Peloton Wealth Strategists’ holdings in Synopsys were worth $1,421,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Kieckhefer Group LLC acquired a new stake in shares of Synopsys during the fourth quarter worth $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Synopsys during the fourth quarter worth $33,000. Hazlett Burt & Watson Inc. lifted its stake in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the period. Sierra Ocean LLC acquired a new stake in shares of Synopsys during the fourth quarter worth $39,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Synopsys during the third quarter worth $44,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction on 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 completion of the transaction, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.62% of the stock is owned by corporate insiders.

Synopsys Stock Performance

SNPS opened at $454.71 on Friday. Synopsys, Inc. has a fifty-two week low of $454.05 and a fifty-two week high of $624.80. The company has a fifty day moving average of $506.84 and a two-hundred day moving average of $516.13. The stock has a market capitalization of $70.29 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 3.23 and a beta of 1.12.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Piper Sandler lowered their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday. Robert W. Baird lowered their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. 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 target price for the company. Needham & Company LLC restated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday. Finally, Morgan Stanley decreased their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average 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.