Cibc World Market Inc. Has $20.76 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Cibc World Market Inc. boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 99.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,767 shares of the semiconductor company’s stock after purchasing an additional 21,305 shares during the quarter. Cibc World Market Inc.’s holdings in Synopsys were worth $20,757,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacifica Partners Inc. bought a new stake in Synopsys in the 3rd quarter valued at about $25,000. Kieckhefer Group LLC acquired a new stake in Synopsys in the fourth quarter valued at approximately $27,000. Tsfg LLC increased its holdings in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares during the period. Finally, Princeton Global Asset Management LLC bought a new position in shares of Synopsys in the 3rd quarter worth $44,000. 85.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SNPS shares. Loop Capital began coverage on shares of Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Robert W. Baird lowered their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Thursday, December 5th. Piper Sandler lowered their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Finally, Mizuho assumed coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Price Performance

SNPS opened at $525.48 on Friday. The firm has a market capitalization of $81.23 billion, a P/E ratio of 36.19, a price-to-earnings-growth ratio of 3.36 and a beta of 1.12. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The company has a fifty day moving average price of $517.05 and a 200-day moving average price of $521.58.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.66% of the stock is 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.