RBA Wealth Management LLC Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

RBA Wealth Management LLC grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,195 shares of the semiconductor company’s stock after acquiring an additional 69 shares during the quarter. Synopsys comprises approximately 2.1% of RBA Wealth Management LLC’s portfolio, making the stock its 13th biggest position. RBA Wealth Management LLC’s holdings in Synopsys were worth $5,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in SNPS. Davidson Capital Management Inc. boosted its position in Synopsys by 33,828.6% during the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after purchasing an additional 4,736 shares in the last quarter. Peloton Wealth Strategists lifted its holdings in Synopsys by 221.2% during the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after buying an additional 1,984 shares during the last quarter. Swiss National Bank increased its position in Synopsys by 0.7% in the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after acquiring an additional 3,200 shares during the period. Parnassus Investments LLC acquired a new stake in shares of Synopsys in the 3rd quarter worth approximately $633,469,000. Finally, Harvest Portfolios Group Inc. lifted its stake in shares of Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after purchasing an additional 1,496 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated 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 approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SNPS. Loop Capital began coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Wells Fargo & Company cut their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Piper Sandler lowered their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Mizuho started coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. Finally, Rosenblatt Securities restated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

Synopsys Stock Performance

SNPS stock opened at $520.25 on Tuesday. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The firm has a market cap of $80.42 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 3.44 and a beta of 1.12. The firm has a 50-day simple moving average of $516.26 and a two-hundred day simple moving average of $519.95.

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.