Torray Investment Partners LLC Acquires 4,546 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Torray Investment Partners LLC lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 38.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,305 shares of the semiconductor company’s stock after acquiring an additional 4,546 shares during the period. Torray Investment Partners LLC’s holdings in Synopsys were worth $7,914,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Kieckhefer Group LLC purchased a new position in Synopsys during the 4th quarter valued at about $27,000. Whipplewood Advisors LLC purchased a new position in Synopsys during the fourth quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. increased its holdings in Synopsys by 40.0% during the 3rd 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 period. Sierra Ocean LLC bought a new stake in Synopsys during the 4th quarter worth approximately $39,000. Finally, Princeton Global Asset Management LLC purchased a new stake in Synopsys in the 3rd quarter worth approximately $44,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the topic of several research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Piper Sandler dropped their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Redburn Atlantic began coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and an average target price of $638.58.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 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 link. Insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

SNPS stock opened at $443.26 on Tuesday. The firm has a market cap of $68.54 billion, a P/E ratio of 30.53, a P/E/G ratio of 3.23 and a beta of 1.12. The firm’s fifty day moving average is $505.15 and its 200 day moving average is $514.75. Synopsys, Inc. has a 52 week low of $442.29 and a 52 week high of $624.80.

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.