Diversify Wealth Management LLC Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

Diversify Wealth Management LLC raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 221.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,133 shares of the semiconductor company’s stock after purchasing an additional 1,469 shares during the period. Diversify Wealth Management LLC’s holdings in Synopsys were worth $1,051,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Parnassus Investments LLC purchased a new stake in Synopsys in the 3rd quarter worth approximately $633,469,000. Edgewood Management LLC increased its stake in shares of Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after purchasing an additional 487,025 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after purchasing an additional 335,993 shares during the period. Impax Asset Management Group plc lifted its stake in shares of Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after buying an additional 267,836 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after buying an additional 257,526 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $526.70 on Tuesday. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The business’s 50 day moving average is $519.43 and its two-hundred day moving average is $525.54. The stock has a market capitalization of $81.42 billion, a P/E ratio of 36.27, a PEG ratio of 3.22 and a beta of 1.12.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Wells Fargo & Company decreased their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Berenberg Bank started coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Finally, Mizuho initiated coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The shares were 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 directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.

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.