Park Place Capital Corp Acquires 225 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Park Place Capital Corp raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 142.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 383 shares of the semiconductor company’s stock after purchasing an additional 225 shares during the period. Park Place Capital Corp’s holdings in Synopsys were worth $186,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Parnassus Investments LLC purchased a new stake in Synopsys during the third quarter valued at $633,469,000. Edgewood Management LLC grew its stake in shares of Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after purchasing an additional 487,025 shares during the period. Van ECK Associates Corp increased its position 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 valued at $791,923,000 after purchasing an additional 335,993 shares during the last quarter. Impax Asset Management Group plc lifted its stake in shares of Synopsys by 120.2% in the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after purchasing an additional 267,836 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Synopsys by 32.5% in the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after buying an additional 257,526 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

SNPS stock opened at $544.70 on Thursday. The company’s fifty day moving average price is $518.37 and its 200-day moving average price is $524.33. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The company has a market capitalization of $84.20 billion, a PE ratio of 37.51, a price-to-earnings-growth ratio of 3.47 and a beta of 1.12.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SNPS shares. Robert W. Baird decreased their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Piper Sandler reduced their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Finally, Mizuho began coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Synopsys has an average rating of “Moderate Buy” and an average price target of $641.82.

Insider Activity

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.66% of the company’s stock.

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.