Chesapeake Wealth Management Has $841,000 Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Chesapeake Wealth Management decreased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 14.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,732 shares of the semiconductor company’s stock after selling 288 shares during the period. Chesapeake Wealth Management’s holdings in Synopsys were worth $841,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SNPS. Hazlett Burt & Watson Inc. lifted its position in Synopsys by 40.0% during the 3rd 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 during the period. Green Alpha Advisors LLC lifted its position in Synopsys by 1.7% during the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock valued at $655,000 after purchasing an additional 22 shares during the period. Aptus Capital Advisors LLC lifted its position in Synopsys by 1.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock valued at $733,000 after purchasing an additional 22 shares during the period. Resurgent Financial Advisors LLC raised its position 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 valued at $410,000 after acquiring an additional 22 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of Synopsys by 6.1% in the 3rd quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock valued at $202,000 after acquiring an additional 23 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $526.70 on Tuesday. The stock has a market cap of $81.42 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 3.45 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The stock has a fifty day moving average of $519.43 and a 200-day moving average of $525.54.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction 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 completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research report on Thursday, December 5th. Wells Fargo & Company lowered their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. 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. Robert W. Baird decreased their target price 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. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. One research 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

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.