New Age Alpha Advisors LLC Has $9.05 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

New Age Alpha Advisors LLC raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 86.4% in the fourth quarter, Holdings Channel reports. The fund owned 18,641 shares of the semiconductor company’s stock after buying an additional 8,641 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Synopsys were worth $9,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of SNPS. Kieckhefer Group LLC bought a new position in Synopsys in the fourth quarter worth $27,000. Whipplewood Advisors LLC bought a new position in Synopsys during the fourth quarter worth about $33,000. Sierra Ocean LLC acquired a new position in shares of Synopsys in the 4th quarter worth approximately $39,000. Newbridge Financial Services Group Inc. bought a new position in shares of Synopsys during the 4th quarter worth approximately $51,000. Finally, Versant Capital Management Inc raised its stake in 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 in the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares of the company’s stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred on 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 directly 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 disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock valued at $22,794,835 in the last quarter. 0.62% of the stock is currently owned by insiders.

Synopsys Stock Performance

NASDAQ:SNPS opened at $446.23 on Friday. Synopsys, Inc. has a 52-week low of $425.73 and a 52-week high of $624.80. The stock’s 50-day simple moving average is $487.40 and its 200 day simple moving average is $505.45. The company has a market cap of $69.00 billion, a P/E ratio of 30.73, a P/E/G ratio of 3.23 and a beta of 1.16.

Analyst Upgrades and Downgrades

SNPS has been the subject of several analyst reports. Robert W. Baird cut their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Piper Sandler dropped their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys 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.