Silver Oak Securities Incorporated Reduces Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Silver Oak Securities Incorporated cut its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,352 shares of the semiconductor company’s stock after selling 41 shares during the period. Silver Oak Securities Incorporated’s holdings in Synopsys were worth $658,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Parnassus Investments LLC acquired a new position in shares of Synopsys in the 3rd quarter valued at $633,469,000. Edgewood Management LLC raised its holdings in shares of Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after buying an additional 487,025 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after buying an additional 335,993 shares during the period. Impax Asset Management Group plc grew its holdings in shares of Synopsys by 120.2% during the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after buying an additional 267,836 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after acquiring an additional 257,526 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Berenberg Bank started coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Piper Sandler dropped their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Finally, Loop Capital initiated coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price target on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $641.82.

Synopsys Trading Down 1.4 %

Shares of Synopsys stock opened at $525.82 on Friday. The company has a 50-day moving average of $514.15 and a two-hundred day moving average of $519.55. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The stock has a market cap of $81.28 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12.

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.