Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by CX Institutional

CX Institutional boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 80.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,484 shares of the semiconductor company’s stock after purchasing an additional 1,110 shares during the quarter. CX Institutional’s holdings in Synopsys were worth $1,206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. Davidson Capital Management Inc. boosted its stake in Synopsys by 33,828.6% during the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after buying an additional 4,736 shares in the last quarter. Peloton Wealth Strategists grew its stake in shares of Synopsys by 221.2% in the 3rd 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 last quarter. Swiss National Bank raised its holdings in shares of Synopsys by 0.7% in the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after purchasing an additional 3,200 shares in the last quarter. Parnassus Investments LLC bought a new stake in Synopsys during the third quarter worth approximately $633,469,000. Finally, Harvest Portfolios Group Inc. grew its position in Synopsys by 3.7% in the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after buying an additional 1,496 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Price Performance

Synopsys stock opened at $546.19 on Friday. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The company’s fifty day moving average price is $518.17 and its two-hundred day moving average price is $524.66. The company has a market capitalization of $84.43 billion, a price-to-earnings ratio of 37.62, a PEG ratio of 3.57 and a beta of 1.12.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. 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. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. Wells Fargo & Company lowered their price objective on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Redburn Atlantic started 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. Finally, Robert W. Baird decreased their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $641.82.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

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.