Smith Group Asset Management LLC Makes New $1.46 Million Investment in Synopsys, Inc. (NASDAQ:SNPS)

Smith Group Asset Management LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,000 shares of the semiconductor company’s stock, valued at approximately $1,456,000.

A number of other large investors also recently modified their holdings of the business. Hazlett Burt & Watson Inc. lifted its holdings in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares during the last quarter. Green Alpha Advisors LLC raised its position in shares of Synopsys by 1.7% during the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after purchasing an additional 22 shares during the period. Aptus Capital Advisors LLC lifted its holdings in shares of Synopsys by 1.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock worth $733,000 after purchasing an additional 22 shares during the last quarter. Resurgent Financial Advisors LLC boosted its position in Synopsys by 2.8% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after purchasing an additional 22 shares during the period. Finally, Larson Financial Group LLC grew its stake in Synopsys by 6.1% during the 3rd quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock worth $202,000 after buying an additional 23 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

Shares of SNPS stock opened at $526.12 on Wednesday. The stock has a market cap of $81.33 billion, a PE ratio of 36.23, a price-to-earnings-growth ratio of 3.57 and a beta of 1.12. The business’s fifty day moving average is $518.41 and its 200-day moving average is $522.22. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Berenberg Bank assumed coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Wednesday, December 4th. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Finally, Redburn Atlantic initiated coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred 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 $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.66% of the stock is owned by corporate 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.