CGN Advisors LLC Buys 479 Shares of Synopsys, Inc. (NASDAQ:SNPS)

CGN Advisors LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 20.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,767 shares of the semiconductor company's stock after buying an additional 479 shares during the period. CGN Advisors LLC's holdings in Synopsys were worth $1,343,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of SNPS. Pacifica Partners Inc. purchased a new position in Synopsys during the 3rd quarter worth approximately $25,000. Kieckhefer Group LLC acquired a new stake in shares of Synopsys in the fourth quarter worth $27,000. Tsfg LLC grew 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 buying an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock valued at $35,000 after buying an additional 20 shares during the period. Finally, Princeton Global Asset Management LLC purchased a new stake in Synopsys in the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was 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 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 this hyperlink. Insiders own 0.66% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler lowered their target price on Synopsys from $670.00 to $655.00 and set an "overweight" rating on the stock in a research note on Friday, December 6th. Redburn Atlantic began coverage on shares of Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 price objective on the stock. Wells Fargo & Company cut their target price on shares of Synopsys from $570.00 to $540.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Berenberg Bank started coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a "buy" rating and a $660.00 price target on the stock. Finally, Mizuho assumed coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $641.82.

Synopsys Price Performance

Shares of SNPS stock traded up $10.89 during trading on Friday, reaching $526.70. The company had a trading volume of 1,240,502 shares, compared to its average volume of 870,192. The company has a market capitalization of $81.42 billion, a PE ratio of 36.27, a PEG ratio of 3.22 and a beta of 1.12. The firm's 50 day simple moving average is $519.43 and its two-hundred day simple moving average is $526.11. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38.

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.