HighTower Advisors LLC Grows Holdings in Synopsys, Inc. (NASDAQ:SNPS)

HighTower Advisors LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 15.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,754 shares of the semiconductor company's stock after purchasing an additional 1,450 shares during the period. HighTower Advisors LLC's holdings in Synopsys were worth $5,220,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new position in shares of Synopsys during the fourth quarter worth approximately $27,000. Whipplewood Advisors LLC purchased a new position in shares of Synopsys during the fourth quarter worth approximately $33,000. Sierra Ocean LLC purchased a new position in shares of Synopsys during the fourth quarter worth approximately $39,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Synopsys during the fourth quarter worth approximately $51,000. Finally, Versant Capital Management Inc grew its position in shares of Synopsys by 109.3% during the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock worth $55,000 after acquiring an additional 59 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of research reports. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 target price on the stock. Wells Fargo & Company lowered their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Robert W. Baird lowered their price objective on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research report on Thursday, December 5th. Morgan Stanley lowered their price objective on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $638.58.

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Synopsys Price Performance

Shares of NASDAQ SNPS traded down $1.39 during trading on Friday, hitting $448.60. 3,362,089 shares of the company were exchanged, compared to its average volume of 1,020,823. The company has a market cap of $69.36 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The firm's fifty day moving average price is $491.19 and its 200 day moving average price is $506.23.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction dated 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 $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock worth $22,794,835 in the last three months. Corporate insiders own 0.62% 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.