Park Avenue Securities LLC Boosts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Park Avenue Securities LLC grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 20.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,276 shares of the semiconductor company’s stock after acquiring an additional 1,732 shares during the period. Park Avenue Securities LLC’s holdings in Synopsys were worth $4,988,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SNPS. Davidson Capital Management Inc. lifted its position in shares of Synopsys by 33,828.6% in the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after acquiring an additional 4,736 shares in the last quarter. Peloton Wealth Strategists lifted its holdings in Synopsys by 221.2% in the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after purchasing an additional 1,984 shares in the last quarter. Swiss National Bank boosted its stake in shares of Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after purchasing an additional 3,200 shares during the last quarter. Parnassus Investments LLC purchased a new stake in shares of Synopsys during the third quarter worth about $633,469,000. Finally, Harvest Portfolios Group Inc. raised its position 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. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SNPS shares. Mizuho started coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Robert W. Baird lowered their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. Redburn Atlantic began coverage on Synopsys in a report on Monday. They issued a “buy” rating and a $600.00 price target for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $641.82.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $515.81 on Friday. The stock has a 50-day simple moving average of $521.29 and a 200-day simple moving average of $527.29. The stock has a market capitalization of $79.73 billion, a P/E ratio of 35.52, a PEG ratio of 3.22 and a beta of 1.12. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

Synopsys Company 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.