VCI Wealth Management LLC Invests $2.21 Million in Synopsys, Inc. (NASDAQ:SNPS)

VCI Wealth Management LLC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,550 shares of the semiconductor company’s stock, valued at approximately $2,208,000. Synopsys makes up approximately 0.9% of VCI Wealth Management LLC’s holdings, making the stock its 28th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacifica Partners Inc. acquired a new position in Synopsys in the third quarter valued at approximately $25,000. Kieckhefer Group LLC acquired a new position in Synopsys in the fourth quarter valued at approximately $27,000. Tsfg LLC boosted its holdings in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in Synopsys in the third quarter valued at approximately $44,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is currently owned by company insiders.

Synopsys Stock Down 6.5 %

NASDAQ:SNPS opened at $510.73 on Tuesday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The firm’s fifty day simple moving average is $518.68 and its 200-day simple moving average is $522.91. The stock has a market cap of $78.95 billion, a PE ratio of 35.17, a price-to-earnings-growth ratio of 3.57 and a beta of 1.12.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SNPS. Berenberg Bank began coverage on Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. Mizuho assumed coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective for the company. Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Finally, Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

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.