Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Independent Advisor Alliance

Independent Advisor Alliance increased its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 21.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,547 shares of the semiconductor company's stock after acquiring an additional 813 shares during the quarter. Independent Advisor Alliance's holdings in Synopsys were worth $2,207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNPS. Parnassus Investments LLC purchased a new stake in Synopsys during the 3rd quarter valued at approximately $633,469,000. Edgewood Management LLC lifted its position in Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company's stock worth $1,554,540,000 after buying an additional 487,025 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Synopsys in the fourth quarter worth $199,065,000. Proficio Capital Partners LLC lifted its position in shares of Synopsys by 71,578.5% during the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company's stock worth $187,517,000 after purchasing an additional 385,808 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its position in shares of Synopsys by 120.2% during the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company's stock worth $248,497,000 after purchasing an additional 267,836 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

SNPS has been the subject of several recent research reports. Robert W. Baird decreased their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Morgan Stanley dropped their price target on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They issued a "buy" rating and a $600.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Synopsys has an average rating of "Moderate Buy" and an average target price of $638.58.

Synopsys Stock Up 4.1 %

Shares of SNPS stock traded up $17.65 during trading hours on Friday, hitting $446.23. 1,118,063 shares of the company's stock were exchanged, compared to its average volume of 1,228,387. Synopsys, Inc. has a fifty-two week low of $425.73 and a fifty-two week high of $624.80. The firm has a market cap of $69.00 billion, a P/E ratio of 30.73, a P/E/G ratio of 3.23 and a beta of 1.16. The firm has a 50 day moving average of $495.89 and a two-hundred day moving average of $508.41.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of the 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 transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by corporate insiders.

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.