Pacer Advisors Inc. Acquires 1,173 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Pacer Advisors Inc. boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 5.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 21,481 shares of the semiconductor company’s stock after acquiring an additional 1,173 shares during the quarter. Pacer Advisors Inc.’s holdings in Synopsys were worth $10,426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Pacifica Partners Inc. bought a new stake in shares of Synopsys during the 3rd quarter valued at $25,000. Kieckhefer Group LLC bought a new position in shares of Synopsys in the fourth quarter valued at approximately $27,000. Tsfg LLC increased its holdings in Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares during the period. Hazlett Burt & Watson Inc. lifted its stake in 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. Finally, Princeton Global Asset Management LLC bought a new position in Synopsys in the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SNPS. Robert W. Baird lowered their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Piper Sandler dropped their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Wells Fargo & Company decreased 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. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Stock Performance

SNPS stock opened at $526.12 on Wednesday. The firm has a market cap of $81.33 billion, a P/E ratio of 36.23, a P/E/G ratio of 3.57 and a beta of 1.12. The firm’s fifty day moving average is $518.41 and its 200 day moving average is $522.22. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction 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 $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.66% of the stock is owned by corporate insiders.

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.