Physicians Financial Services Inc. Takes $272,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Physicians Financial Services Inc. purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 560 shares of the semiconductor company’s stock, valued at approximately $272,000.

A number of other large investors also recently modified their holdings of the business. Arcadia Investment Management Corp MI increased its holdings in shares of Synopsys by 50.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 300 shares of the semiconductor company’s stock valued at $146,000 after purchasing an additional 100 shares during the period. Capital Investment Counsel Inc boosted its stake in Synopsys by 1.0% during the fourth quarter. Capital Investment Counsel Inc now owns 2,535 shares of the semiconductor company’s stock valued at $1,230,000 after buying an additional 25 shares in the last quarter. ING Groep NV boosted its stake in Synopsys by 320.1% during the fourth quarter. ING Groep NV now owns 38,708 shares of the semiconductor company’s stock valued at $18,787,000 after buying an additional 29,493 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Synopsys by 90.3% during the fourth quarter. Handelsbanken Fonder AB now owns 229,134 shares of the semiconductor company’s stock valued at $111,212,000 after buying an additional 108,716 shares in the last quarter. Finally, Ownership Capital B.V. boosted its stake in Synopsys by 8.4% during the fourth quarter. Ownership Capital B.V. now owns 103,340 shares of the semiconductor company’s stock valued at $50,157,000 after buying an additional 7,965 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Down 1.4 %

Shares of SNPS stock opened at $493.97 on Friday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The firm has a market cap of $76.36 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 3.28 and a beta of 1.12. The stock has a 50 day moving average of $510.88 and a 200-day moving average of $517.44.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SNPS shares. Robert W. Baird decreased their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Wells Fargo & Company decreased their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Piper Sandler decreased their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.