Congress Asset Management Co. Has $135.40 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Congress Asset Management Co. decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 278,973 shares of the semiconductor company's stock after selling 1,775 shares during the quarter. Synopsys makes up about 0.9% of Congress Asset Management Co.'s investment portfolio, making the stock its 29th largest position. Congress Asset Management Co. owned approximately 0.18% of Synopsys worth $135,402,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of SNPS. Kieckhefer Group LLC acquired a new stake in shares of Synopsys in the 4th quarter valued at $27,000. Hazlett Burt & Watson Inc. increased its stake in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock valued at $35,000 after buying an additional 20 shares during the period. Princeton Global Asset Management LLC acquired a new stake in shares of Synopsys in the 3rd quarter valued at $44,000. nVerses Capital LLC acquired a new stake in shares of Synopsys during the third quarter worth $51,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Synopsys during the fourth quarter worth $51,000. Institutional investors own 85.47% of the company's stock.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company'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 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 SEC, which is accessible through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their price objective on Synopsys from $570.00 to $540.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They set a "buy" rating and a $675.00 price objective for the company. Rosenblatt Securities reissued a "buy" rating and issued a $635.00 target price on shares of Synopsys in a research note on Wednesday, December 4th. Needham & Company LLC reissued a "buy" rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Finally, Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 target price for the company. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Synopsys presently has a consensus rating of "Moderate Buy" and an average target price of $641.82.

Synopsys Trading Down 4.6 %

Shares of Synopsys stock traded down $24.02 during trading on Wednesday, reaching $500.98. The stock had a trading volume of 2,417,280 shares, compared to its average volume of 1,050,668. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The company has a market capitalization of $77.44 billion, a price-to-earnings ratio of 34.50, a P/E/G ratio of 3.42 and a beta of 1.12. The stock has a fifty day moving average price of $511.45 and a two-hundred day moving average price of $517.72.

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.