Trueblood Wealth Management LLC Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Trueblood Wealth Management LLC purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, Holdings Channel reports. The fund purchased 499 shares of the semiconductor company’s stock, valued at approximately $242,000.

A number of other institutional investors have also recently modified their holdings of the business. Pacifica Partners Inc. acquired a new stake in Synopsys in the third quarter valued at $25,000. Kieckhefer Group LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at about $27,000. Tsfg LLC boosted its holdings in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in 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 in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in Synopsys during the third quarter worth about $44,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Performance

SNPS stock opened at $526.70 on Monday. The company has a 50 day moving average price of $519.43 and a two-hundred day moving average price of $525.54. The stock has a market capitalization of $81.42 billion, a P/E ratio of 36.27, a PEG ratio of 3.22 and a beta of 1.12. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SNPS shares. Piper Sandler decreased their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Wells Fargo & Company lowered their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $641.82.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.66% of the company’s stock.

About Synopsys

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.