Tompkins Financial Corp Increases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Tompkins Financial Corp increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,857 shares of the semiconductor company’s stock after purchasing an additional 244 shares during the quarter. Tompkins Financial Corp’s holdings in Synopsys were worth $3,813,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SNPS. Dimensional Fund Advisors LP lifted its stake in Synopsys by 16.8% in the second quarter. Dimensional Fund Advisors LP now owns 303,784 shares of the semiconductor company’s stock worth $180,779,000 after purchasing an additional 43,785 shares during the last quarter. Mesirow Financial Investment Management Inc. bought a new stake in shares of Synopsys during the 2nd quarter worth approximately $203,000. Bradley Foster & Sargent Inc. CT lifted its stake in shares of Synopsys by 13.4% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 12,090 shares of the semiconductor company’s stock worth $7,194,000 after acquiring an additional 1,430 shares during the last quarter. Argent Trust Co grew its position in Synopsys by 12.1% in the 2nd quarter. Argent Trust Co now owns 464 shares of the semiconductor company’s stock valued at $276,000 after acquiring an additional 50 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in Synopsys by 3.5% in the second quarter. Blair William & Co. IL now owns 43,443 shares of the semiconductor company’s stock worth $25,851,000 after purchasing an additional 1,451 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. Berenberg Bank started coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Piper Sandler lowered their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Loop Capital began coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. Finally, Wells Fargo & Company dropped their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $641.82.

Synopsys Trading Up 1.7 %

Shares of Synopsys stock opened at $515.81 on Friday. The firm’s 50 day simple moving average is $521.29 and its two-hundred day simple moving average is $527.29. The firm has a market capitalization of $79.73 billion, a price-to-earnings ratio of 35.52, a PEG ratio of 3.22 and a beta of 1.12. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

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.