Diversify Advisory Services LLC Invests $877,000 in Synopsys, Inc. (NASDAQ:SNPS)

Diversify Advisory Services LLC purchased a new stake in Synopsys, Inc. (NASDAQ:SNPSFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,780 shares of the semiconductor company’s stock, valued at approximately $877,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Parnassus Investments LLC bought a new stake in Synopsys in the third quarter worth approximately $633,469,000. Edgewood Management LLC boosted its holdings 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 purchasing an additional 487,025 shares in the last quarter. Van ECK Associates Corp raised its holdings in Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after buying an additional 335,993 shares in the last quarter. Impax Asset Management Group plc lifted its position in shares of Synopsys by 120.2% in the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after buying an additional 267,836 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Synopsys by 32.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after acquiring an additional 257,526 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were 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 owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is owned by company insiders.

Synopsys Price Performance

SNPS opened at $526.70 on Tuesday. The company has a market capitalization of $81.42 billion, a P/E ratio of 36.27, a P/E/G ratio of 3.22 and a beta of 1.12. The firm’s fifty day moving average price is $519.43 and its two-hundred day moving average price is $525.54. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Wall Street Analyst Weigh In

SNPS has been the subject of several analyst reports. Piper Sandler reduced their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Wells Fargo & Company decreased their price objective on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Redburn Atlantic began coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research report on Thursday, December 5th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

View Our Latest Stock Report on Synopsys

Synopsys Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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