DAVENPORT & Co LLC Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

DAVENPORT & Co LLC raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,521 shares of the semiconductor company’s stock after buying an additional 70 shares during the quarter. DAVENPORT & Co LLC’s holdings in Synopsys were worth $1,224,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Kieckhefer Group LLC purchased a new stake in Synopsys in the 4th quarter valued at $27,000. Tsfg LLC increased its stake in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares during the period. Hazlett Burt & Watson Inc. raised its holdings in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in shares of Synopsys during the third quarter worth about $44,000. Finally, nVerses Capital LLC purchased a new position in shares of Synopsys during the third quarter worth about $51,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wells Fargo & Company reduced their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Wednesday, December 4th. Finally, 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. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Insider Activity at Synopsys

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 directly owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by company insiders.

Synopsys Trading Up 0.9 %

Shares of Synopsys stock opened at $533.18 on Friday. The company has a 50-day moving average of $514.44 and a two-hundred day moving average of $519.45. The stock has a market cap of $82.42 billion, a PE ratio of 36.72, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

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.