Bowman & Co S.C. Acquires New Shares in Synopsys, Inc. (NASDAQ:SNPS)

Bowman & Co S.C. purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 688 shares of the semiconductor company's stock, valued at approximately $334,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SNPS. Davidson Capital Management Inc. increased its holdings in Synopsys by 33,828.6% in the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company's stock worth $2,405,000 after purchasing an additional 4,736 shares in the last quarter. Peloton Wealth Strategists increased its holdings in Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company's stock worth $1,459,000 after purchasing an additional 1,984 shares in the last quarter. Swiss National Bank increased its holdings in Synopsys by 0.7% in the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company's stock worth $230,306,000 after purchasing an additional 3,200 shares in the last quarter. Parnassus Investments LLC bought a new stake in Synopsys in the third quarter worth approximately $633,469,000. Finally, Harvest Portfolios Group Inc. increased its holdings in Synopsys by 3.7% in the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company's stock worth $21,330,000 after purchasing an additional 1,496 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Stock Up 2.1 %

SNPS stock traded up $10.89 during midday trading on Friday, hitting $526.70. The company's stock had a trading volume of 1,240,502 shares, compared to its average volume of 870,192. The stock's 50-day moving average price is $519.43 and its 200 day moving average price is $525.54. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The stock has a market cap of $81.42 billion, a price-to-earnings ratio of 36.27, a PEG ratio of 3.22 and a beta of 1.12.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business'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 transaction, the executive now owns 1,460 shares of the company's stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.66% of the company's stock.

Analysts Set New Price Targets

SNPS has been the subject of several recent research reports. Redburn Atlantic initiated coverage on Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 price objective for the company. Berenberg Bank initiated coverage on Synopsys in a report on Tuesday, October 15th. They set a "buy" rating and a $660.00 price objective for the company. Mizuho initiated coverage on Synopsys in a report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price objective for the company. Rosenblatt Securities restated a "buy" rating and set a $635.00 price objective on shares of Synopsys in a report on Wednesday, December 4th. Finally, Robert W. Baird decreased their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $641.82.

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.