Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 23.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,058 shares of the semiconductor company’s stock after purchasing an additional 1,556 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Synopsys were worth $3,911,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SNPS. Parnassus Investments LLC acquired a new stake in shares of Synopsys during the third quarter worth about $633,469,000. Edgewood Management LLC increased its stake in shares of Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after buying an additional 487,025 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Synopsys by 71,578.5% during the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock worth $187,517,000 after buying an additional 385,808 shares during the period. Impax Asset Management Group plc increased its stake in shares of Synopsys by 120.2% during the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after buying an additional 267,836 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Synopsys by 32.5% during the third 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 and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Down 0.5 %

Shares of SNPS opened at $445.73 on Friday. The firm has a market cap of $68.92 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. The company’s 50 day simple moving average is $502.01 and its 200-day simple moving average is $513.09. Synopsys, Inc. has a 12-month low of $429.77 and a 12-month high of $624.80.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $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 accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SNPS. Loop Capital began coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. Morgan Stanley cut their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Rosenblatt Securities restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Needham & Company LLC restated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Finally, Wells Fargo & Company dropped their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $638.58.

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.