Financial Counselors Inc. Grows Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Financial Counselors Inc. increased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 6.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 32,489 shares of the semiconductor company’s stock after acquiring an additional 1,872 shares during the period. Financial Counselors Inc.’s holdings in Synopsys were worth $15,769,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kieckhefer Group LLC acquired a new position in Synopsys in the fourth quarter valued at about $27,000. Whipplewood Advisors LLC purchased a new position in shares of Synopsys in the 4th quarter valued at about $33,000. Sierra Ocean LLC purchased a new stake in shares of Synopsys during the fourth quarter worth approximately $39,000. Newbridge Financial Services Group Inc. acquired a new stake in Synopsys in the fourth quarter valued at approximately $51,000. Finally, Versant Capital Management Inc lifted its position in shares of Synopsys by 109.3% during the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $457.23 on Wednesday. The company has a market cap of $70.70 billion, a P/E ratio of 31.49, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a one year low of $425.73 and a one year high of $624.80. The business’s 50-day simple moving average is $489.94 and its 200 day simple moving average is $506.26.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SNPS. Piper Sandler lowered their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Wells Fargo & Company lowered their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. One investment 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 has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Insider Activity

In other 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 sale, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock worth $22,794,835 over the last 90 days. Company insiders own 0.62% of the company’s stock.

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.