CIBC Asset Management Inc boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,789 shares of the semiconductor company's stock after purchasing an additional 5,253 shares during the quarter. CIBC Asset Management Inc's holdings in Synopsys were worth $36,300,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new stake in Synopsys during the fourth quarter valued at about $27,000. Hazlett Burt & Watson Inc. grew 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 acquiring an additional 20 shares during the period. Sierra Ocean LLC purchased a new stake in Synopsys during the fourth quarter valued at about $39,000. Princeton Global Asset Management LLC purchased a new stake in Synopsys during the third quarter valued at about $44,000. Finally, nVerses Capital LLC purchased a new stake in Synopsys during the third quarter valued at about $51,000. Hedge funds and other institutional investors own 85.47% of the company's stock.
Synopsys Price Performance
SNPS traded down $7.01 on Thursday, reaching $493.97. The company's stock had a trading volume of 1,270,893 shares, compared to its average volume of 1,057,544. The stock has a market cap of $76.36 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The business's 50 day moving average is $511.23 and its 200 day moving average is $517.61.
Analyst Ratings Changes
A number of equities research analysts have issued reports on SNPS shares. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 price target for the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. Wells Fargo & Company decreased their target price on Synopsys from $570.00 to $540.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Loop Capital started coverage on Synopsys in a research report on Monday, November 11th. They issued a "buy" rating and a $675.00 target price for the company. Finally, Robert W. Baird decreased their target price on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a research report on Thursday, December 5th. 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.com, the company presently has an average rating of "Moderate Buy" and an average target price of $641.82.
Get Our Latest Report on Synopsys
Insider Activity at Synopsys
In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company's stock in a transaction that occurred on 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 sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.66% of the stock is currently owned by company insiders.
About Synopsys
(
Free Report)
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.
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