Strategic Financial Concepts LLC Purchases Shares of 52,422 Synopsys, Inc. (NASDAQ:SNPS)

Strategic Financial Concepts LLC purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 52,422 shares of the semiconductor company’s stock, valued at approximately $25,444,000. Synopsys comprises about 0.8% of Strategic Financial Concepts LLC’s portfolio, making the stock its 13th largest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of SNPS. Hazlett Burt & Watson Inc. grew its stake in shares of Synopsys by 40.0% in the 3rd 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. Caprock Group LLC grew its stake in shares of Synopsys by 0.5% in the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after buying an additional 20 shares in the last quarter. Compagnie Lombard Odier SCmA grew its stake in shares of Synopsys by 1.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after buying an additional 20 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in shares of Synopsys by 1.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock worth $733,000 after buying an additional 22 shares in the last quarter. Finally, Resurgent Financial Advisors LLC grew its stake in shares of Synopsys by 2.8% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock worth $410,000 after buying an additional 22 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

NASDAQ:SNPS opened at $522.53 on Friday. 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 $80.77 billion, a P/E ratio of 35.99, a P/E/G ratio of 3.49 and a beta of 1.12. The firm has a 50-day simple moving average of $510.78 and a 200-day simple moving average of $518.06.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Thursday, December 5th. Robert W. Baird dropped their price target 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. Mizuho assumed 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. Piper Sandler dropped their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Finally, Loop Capital assumed coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $641.82.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.66% of the company’s stock.

Synopsys 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.