Hennion & Walsh Asset Management Inc. Buys 844 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Hennion & Walsh Asset Management Inc. lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 16.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,087 shares of the semiconductor company's stock after purchasing an additional 844 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Synopsys were worth $2,954,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Pacifica Partners Inc. bought a new stake in Synopsys in the third quarter worth $25,000. Kieckhefer Group LLC bought a new stake in Synopsys in the fourth quarter worth $27,000. Tsfg LLC boosted its holdings in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in Synopsys in the third quarter worth $44,000. 85.47% of the stock is currently owned by institutional investors.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company's stock in a transaction 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 completion of the sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by company insiders.

Synopsys Price Performance

Synopsys stock traded up $10.89 during mid-day trading on Friday, reaching $526.70. 1,240,438 shares of the stock traded hands, compared to its average volume of 1,044,583. The stock has a market capitalization of $81.42 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 3.22 and a beta of 1.12. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The business's 50-day moving average is $521.29 and its 200-day moving average is $527.29.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Berenberg Bank assumed coverage on Synopsys in a report on Tuesday, October 15th. They issued a "buy" rating and a $660.00 target price on the stock. Robert W. Baird dropped their target price on Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. 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. Piper Sandler decreased their price target on Synopsys from $670.00 to $655.00 and set an "overweight" rating for the company in a research note on Friday, December 6th. Finally, Mizuho began coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 price target for the company. One equities research 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, Synopsys has a consensus rating of "Moderate Buy" and a consensus price target of $641.82.

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.