Moss Adams Wealth Advisors LLC Acquires New Shares in Synopsys, Inc. (NASDAQ:SNPS)

Moss Adams Wealth Advisors LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 506 shares of the semiconductor company’s stock, valued at approximately $246,000.

Other institutional investors also recently modified their holdings of the company. Argent Trust Co grew its holdings in Synopsys by 12.1% during the second quarter. Argent Trust Co now owns 464 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 50 shares during the period. Bridges Investment Management Inc. bought a new position in shares of Synopsys during the second quarter worth $437,000. King Luther Capital Management Corp grew its holdings in shares of Synopsys by 50.6% in the 2nd quarter. King Luther Capital Management Corp now owns 9,313 shares of the semiconductor company’s stock valued at $5,542,000 after buying an additional 3,129 shares during the period. AE Wealth Management LLC increased its position in shares of Synopsys by 4.8% in the 2nd quarter. AE Wealth Management LLC now owns 3,678 shares of the semiconductor company’s stock valued at $2,189,000 after buying an additional 169 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Synopsys by 1.7% during the 2nd quarter. Pacer Advisors Inc. now owns 20,614 shares of the semiconductor company’s stock worth $12,267,000 after buying an additional 338 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wells Fargo & Company decreased 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. Loop Capital started coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Robert W. Baird reduced 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. Finally, Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $526.70 on Friday. The company’s 50-day moving average price is $519.43 and its two-hundred day moving average price is $526.11. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The stock has a market capitalization of $81.42 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 3.22 and a beta of 1.12.

Insider Activity at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the 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 sale, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by company insiders.

Synopsys 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.