Stock Yards Bank & Trust Co. Buys New Position in Synopsys, Inc. (NASDAQ:SNPS)

Stock Yards Bank & Trust Co. purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,463 shares of the semiconductor company’s stock, valued at approximately $710,000.

A number of other institutional investors also recently made changes to their positions in SNPS. Pacifica Partners Inc. acquired a new stake in Synopsys in the third quarter worth approximately $25,000. Kieckhefer Group LLC bought a new stake in shares of Synopsys in the 4th quarter worth $27,000. Tsfg LLC lifted its holdings in shares of 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 buying an additional 24 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 40.0% during 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 in the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in Synopsys in the third quarter worth about $44,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Trading Down 1.0 %

NASDAQ SNPS opened at $520.25 on Tuesday. The company has a market capitalization of $80.42 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The firm’s fifty day simple moving average is $516.26 and its 200-day simple moving average is $519.95.

Analyst Ratings Changes

SNPS has been the subject of several research reports. Berenberg Bank started coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Redburn Atlantic started coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Finally, Wells Fargo & Company cut their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

Insider Transactions at Synopsys

In other 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 transaction, 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 SEC, which can be accessed through this hyperlink. Company insiders own 0.66% 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.