Horizon Investments LLC Raises Position in Synopsys, Inc. (NASDAQ:SNPS)

Horizon Investments LLC raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 76.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,671 shares of the semiconductor company’s stock after acquiring an additional 2,886 shares during the quarter. Horizon Investments LLC’s holdings in Synopsys were worth $3,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Kieckhefer Group LLC bought a new position in Synopsys in the 4th quarter worth about $27,000. Whipplewood Advisors LLC bought a new position in Synopsys in the 4th quarter worth about $33,000. Sierra Ocean LLC bought a new position in Synopsys in the 4th quarter worth about $39,000. Newbridge Financial Services Group Inc. bought a new position in Synopsys in the 4th quarter worth about $51,000. Finally, Versant Capital Management Inc boosted its stake in Synopsys by 109.3% in the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Needham & Company LLC restated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Robert W. Baird lowered their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Finally, Wells Fargo & Company lowered their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Synopsys has an average rating of “Moderate Buy” and an average price target of $638.58.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. The trade was a 13.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred 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 $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,909 shares of company stock valued at $22,794,835. Corporate insiders own 0.62% of the company’s stock.

Synopsys Trading Down 1.2 %

Shares of NASDAQ SNPS opened at $447.99 on Wednesday. The stock has a market cap of $69.27 billion, a price-to-earnings ratio of 30.85, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80. The stock’s 50-day moving average is $494.15 and its 200 day moving average is $507.35.

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.