Gradient Investments LLC Buys New Position in Synopsys, Inc. (NASDAQ:SNPS)

Gradient Investments LLC purchased a new position in Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, Holdings Channel reports. The fund purchased 25,157 shares of the semiconductor company’s stock, valued at approximately $12,210,000.

Several other institutional investors and hedge funds have also modified their holdings of SNPS. Hazlett Burt & Watson Inc. increased 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 purchasing an additional 20 shares in the last quarter. Green Alpha Advisors LLC increased its position in Synopsys by 1.7% in the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after buying an additional 22 shares in the last quarter. Aptus Capital Advisors LLC increased its position in Synopsys by 1.5% in the third 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. Resurgent Financial Advisors LLC raised its stake in shares of Synopsys by 2.8% in the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock worth $410,000 after buying an additional 22 shares during the period. Finally, Larson Financial Group LLC lifted its position in shares of Synopsys by 6.1% during the 3rd quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock valued at $202,000 after buying an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity

In other Synopsys 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

NASDAQ:SNPS opened at $546.19 on Friday. The stock’s fifty day moving average is $518.17 and its 200 day moving average is $524.66. The firm has a market capitalization of $84.43 billion, a PE ratio of 37.62, a PEG ratio of 3.57 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.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of analyst reports. Robert W. Baird reduced their price objective 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. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Wednesday, December 4th. Loop Capital began coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. 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, the stock currently has an average 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.