Portfolio Design Labs LLC Purchases New Position in Synopsys, Inc. (NASDAQ:SNPS)

Portfolio Design Labs LLC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, Holdings Channel.com reports. The firm acquired 464 shares of the semiconductor company’s stock, valued at approximately $225,000.

Several other institutional investors also recently bought and sold shares of SNPS. Kieckhefer Group LLC bought a new stake in shares of Synopsys in the fourth quarter valued at about $27,000. Tsfg LLC increased its position in Synopsys by 75.0% during the 3rd 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 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in shares of Synopsys in the 3rd quarter worth approximately $44,000. Finally, nVerses Capital LLC bought a new position in shares of Synopsys during the third quarter valued at approximately $51,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s 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 sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by insiders.

Synopsys Stock Down 3.7 %

SNPS opened at $509.71 on Thursday. The company has a market cap of $78.79 billion, a P/E ratio of 35.10, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12. The firm’s 50-day moving average price is $511.98 and its 200-day moving average price is $518.22. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38.

Analysts Set New Price Targets

A number of equities analysts recently commented on SNPS shares. Robert W. Baird reduced their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. Mizuho initiated coverage on Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Finally, Piper Sandler decreased their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $641.82.

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.