MONECO Advisors LLC Takes $216,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

MONECO Advisors LLC bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 446 shares of the semiconductor company’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Davidson Capital Management Inc. boosted its stake in shares of Synopsys by 33,828.6% in the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after purchasing an additional 4,736 shares in the last quarter. Peloton Wealth Strategists raised its holdings in shares of Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after buying an additional 1,984 shares during the last quarter. Swiss National Bank raised its holdings in shares of Synopsys by 0.7% in the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after buying an additional 3,200 shares during the last quarter. Parnassus Investments LLC bought a new position in shares of Synopsys in the third quarter valued at about $633,469,000. Finally, Harvest Portfolios Group Inc. raised its holdings in shares of Synopsys by 3.7% in the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after buying an additional 1,496 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS stock opened at $457.95 on Wednesday. The stock has a market cap of $70.79 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. The stock has a 50-day moving average of $508.09 and a 200-day moving average of $516.89. Synopsys, Inc. has a one year low of $457.00 and a one year high of $624.80.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of research analyst reports. Morgan Stanley cut their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday. Piper Sandler cut their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. Finally, Wells Fargo & Company dropped their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and an average target price of $639.58.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction dated 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 sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by company insiders.

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.