Midwest Professional Planners LTD. Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Midwest Professional Planners LTD. grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 8.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,776 shares of the semiconductor company’s stock after buying an additional 132 shares during the period. Midwest Professional Planners LTD.’s holdings in Synopsys were worth $862,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Intact Investment Management Inc. raised its position in shares of Synopsys by 66.7% in the fourth quarter. Intact Investment Management Inc. now owns 1,900 shares of the semiconductor company’s stock valued at $922,000 after buying an additional 760 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Synopsys by 14.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,032 shares of the semiconductor company’s stock valued at $4,869,000 after buying an additional 1,249 shares during the last quarter. PGGM Investments raised its position in shares of Synopsys by 1,612.2% in the fourth quarter. PGGM Investments now owns 22,122 shares of the semiconductor company’s stock valued at $10,737,000 after buying an additional 20,830 shares during the last quarter. 1776 Wealth LLC raised its position in shares of Synopsys by 27.0% in the fourth quarter. 1776 Wealth LLC now owns 4,939 shares of the semiconductor company’s stock valued at $2,397,000 after buying an additional 1,051 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Synopsys by 2.7% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 97,929 shares of the semiconductor company’s stock valued at $47,669,000 after buying an additional 2,536 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred 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 in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by company insiders.

Synopsys Stock Performance

NASDAQ SNPS opened at $428.58 on Friday. The firm has a 50 day simple moving average of $496.84 and a 200-day simple moving average of $508.96. Synopsys, Inc. has a one year low of $425.73 and a one year high of $624.80. The firm has a market cap of $66.27 billion, a price-to-earnings ratio of 29.52, a PEG ratio of 3.23 and a beta of 1.16.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Piper Sandler cut their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Morgan Stanley cut their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Finally, Wells Fargo & Company cut their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and a consensus target price 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.