Empowered Funds LLC grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 16.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,468 shares of the semiconductor company's stock after purchasing an additional 1,214 shares during the period. Empowered Funds LLC's holdings in Synopsys were worth $4,110,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in SNPS. PFG Advisors raised its stake in shares of Synopsys by 4.7% during the third quarter. PFG Advisors now owns 4,986 shares of the semiconductor company's stock valued at $2,525,000 after purchasing an additional 224 shares during the period. Tsfg LLC increased its stake in shares of Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock worth $28,000 after buying an additional 24 shares during the last quarter. Sumitomo Life Insurance Co. increased its stake in shares of Synopsys by 1.6% in the third quarter. Sumitomo Life Insurance Co. now owns 8,858 shares of the semiconductor company's stock worth $4,486,000 after buying an additional 137 shares during the last quarter. Vontobel Holding Ltd. increased its stake in shares of Synopsys by 4.7% in the third quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company's stock worth $488,796,000 after buying an additional 43,228 shares during the last quarter. Finally, Wolff Wiese Magana LLC increased its stake in shares of Synopsys by 2.3% in the third quarter. Wolff Wiese Magana LLC now owns 1,107 shares of the semiconductor company's stock worth $561,000 after buying an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.
Analyst Ratings Changes
A number of analysts recently issued reports on the stock. Rosenblatt Securities restated a "buy" rating and issued a $635.00 price target on shares of Synopsys in a research note on Wednesday, December 4th. Needham & Company LLC restated a "buy" rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, December 5th. Loop Capital began coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a "buy" rating and a $675.00 price target for the company. Piper Sandler decreased their price objective on shares of Synopsys from $670.00 to $655.00 and set an "overweight" rating for the company in a report on Friday, December 6th. Finally, Mizuho began coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 price objective for the company. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $641.82.
Check Out Our Latest Research Report on SNPS
Insider Activity
In other news, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company's stock.
Synopsys Stock Performance
Shares of SNPS traded down $5.76 during midday trading on Friday, hitting $522.53. 943,680 shares of the stock traded hands, compared to its average volume of 1,012,953. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The firm has a market capitalization of $80.77 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12. The business's 50 day moving average price is $510.78 and its two-hundred day moving average price is $518.00.
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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