Newbridge Financial Services Group Inc. Invests $51,000 in Synopsys, Inc. (NASDAQ:SNPS)

Newbridge Financial Services Group Inc. acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 105 shares of the semiconductor company’s stock, valued at approximately $51,000.

Other institutional investors have also made changes to their positions in the company. Davidson Capital Management Inc. increased its stake in shares of Synopsys by 33,828.6% in 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 during the period. Peloton Wealth Strategists increased its stake in shares of Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after purchasing an additional 1,984 shares during the period. Swiss National Bank increased its stake in Synopsys by 0.7% during the third 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 bought a new position in Synopsys during the third quarter valued at about $633,469,000. Finally, Harvest Portfolios Group Inc. increased its stake in Synopsys by 3.7% during the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after acquiring an additional 1,496 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Thursday, December 5th. Berenberg Bank initiated coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price target on the stock. 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 note on Friday, December 6th. Finally, Mizuho initiated coverage on Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

Synopsys Trading Down 0.4 %

SNPS stock opened at $529.14 on Wednesday. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The firm has a market cap of $81.79 billion, a P/E ratio of 36.44, a P/E/G ratio of 3.49 and a beta of 1.12. The business’s 50 day moving average is $512.80 and its 200-day moving average is $518.34.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.