Sycomore Asset Management Grows Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Sycomore Asset Management increased its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 48.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 21,054 shares of the semiconductor company's stock after acquiring an additional 6,917 shares during the period. Synopsys makes up about 1.4% of Sycomore Asset Management's holdings, making the stock its 23rd largest holding. Sycomore Asset Management's holdings in Synopsys were worth $10,851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kieckhefer Group LLC acquired a new stake in Synopsys during the 4th quarter worth approximately $27,000. Tsfg LLC grew its stake in Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. increased its holdings in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 20 shares during the period. Princeton Global Asset Management LLC acquired a new stake in Synopsys in the 3rd quarter valued at about $44,000. Finally, nVerses Capital LLC purchased a new position in shares of Synopsys in the 3rd quarter valued at about $51,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Piper Sandler reduced their target price on shares of Synopsys from $670.00 to $655.00 and set an "overweight" rating on the stock in a report on Friday, December 6th. Loop Capital started coverage on Synopsys in a report on Monday, November 11th. They issued a "buy" rating and a $675.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Mizuho initiated coverage on Synopsys in a report on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 price objective on the stock. 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 note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Synopsys presently has an average rating of "Moderate Buy" and an average target price of $641.82.

Synopsys Stock Down 0.9 %

NASDAQ:SNPS traded down $4.59 during trading hours on Tuesday, reaching $526.74. 199,940 shares of the company's stock were exchanged, compared to its average volume of 995,428. The firm has a market capitalization of $81.42 billion, a price-to-earnings ratio of 36.28, a P/E/G ratio of 3.49 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 company has a 50-day moving average of $512.80 and a 200 day moving average of $518.34.

Insider Buying and Selling 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 transaction, the executive now 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.66% of the company's stock.

About Synopsys

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.