Synopsys, Inc. (NASDAQ:SNPS) Position Increased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,853 shares of the semiconductor company’s stock after acquiring an additional 169 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Synopsys were worth $2,355,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Parnassus Investments LLC purchased a new position in Synopsys in the third quarter valued at about $633,469,000. Edgewood Management LLC lifted its stake in shares of 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 buying an additional 487,025 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after buying an additional 335,993 shares during the period. Impax Asset Management Group plc grew its stake in Synopsys by 120.2% in the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after buying an additional 267,836 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Synopsys by 32.5% in 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 during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Synopsys

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 $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

Synopsys Stock Down 0.4 %

SNPS stock opened at $529.14 on Wednesday. The company’s 50-day moving average price is $512.80 and its two-hundred day moving average price is $518.34. The firm has a market cap of $81.79 billion, a P/E ratio of 36.44, a P/E/G ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SNPS shares. Berenberg Bank initiated coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Wells Fargo & Company decreased their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Redburn Atlantic initiated 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. Mizuho started coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $641.82.

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.