Asio Capital LLC Raises Stake in Synopsys, Inc. (NASDAQ:SNPS)

Asio Capital LLC raised its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 14.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,592 shares of the semiconductor company's stock after acquiring an additional 695 shares during the quarter. Asio Capital LLC's holdings in Synopsys were worth $2,714,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Parnassus Investments LLC purchased a new position in shares of Synopsys during the 3rd quarter worth approximately $633,469,000. Edgewood Management LLC raised its stake in Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company's stock valued at $1,554,540,000 after buying an additional 487,025 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company's stock worth $791,923,000 after acquiring an additional 335,993 shares in the last quarter. Impax Asset Management Group plc grew its stake in shares of Synopsys by 120.2% in the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company's stock worth $248,497,000 after acquiring an additional 267,836 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Synopsys by 32.5% during the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company's stock valued at $531,056,000 after acquiring an additional 257,526 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Transactions at Synopsys

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

Wall Street Analysts Forecast Growth

SNPS has been the topic of several analyst reports. Robert W. Baird lowered their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research report on Thursday, December 5th. Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They set a "buy" rating and a $675.00 price target on the stock. Berenberg Bank started coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a "buy" rating and a $660.00 price target for the company. Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 target price for the company. Finally, Needham & Company LLC reissued a "buy" rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $641.82.

Synopsys Trading Down 1.0 %

Synopsys stock traded down $5.35 during mid-day trading on Friday, hitting $546.19. The company had a trading volume of 880,495 shares, compared to its average volume of 813,107. The company has a market capitalization of $84.43 billion, a price-to-earnings ratio of 37.62, a P/E/G ratio of 3.57 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 company's fifty day moving average is $518.68 and its 200-day moving average is $523.59.

Synopsys 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.