Tamar Securities LLC Boosts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Tamar Securities LLC increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,456 shares of the semiconductor company’s stock after buying an additional 2,233 shares during the quarter. Synopsys comprises 3.1% of Tamar Securities LLC’s holdings, making the stock its 11th largest position. Tamar Securities LLC’s holdings in Synopsys were worth $22,548,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parnassus Investments LLC purchased a new position in shares of Synopsys during the 3rd quarter worth $633,469,000. Edgewood Management LLC raised its stake in Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after purchasing an additional 487,025 shares during the period. Van ECK Associates Corp boosted its holdings in Synopsys by 26.5% in 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 grew 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 valued at $248,497,000 after buying an additional 267,836 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Synopsys by 32.5% during the 3rd 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 Trading Down 6.5 %

Synopsys stock opened at $510.73 on Tuesday. The firm has a market capitalization of $78.95 billion, a P/E ratio of 35.17, a P/E/G ratio of 3.57 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The stock’s fifty day simple moving average is $518.68 and its 200-day simple moving average is $522.91.

Insiders Place Their Bets

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several analyst reports. Berenberg Bank began coverage on Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Wells Fargo & Company reduced their price objective on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. Robert W. Baird dropped their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Finally, Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. One equities 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, Synopsys has a consensus rating of “Moderate Buy” and a consensus target price 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.