B.O.S.S. Retirement Advisors LLC Purchases Shares of 1,517 Synopsys, Inc. (NASDAQ:SNPS)

B.O.S.S. Retirement Advisors LLC acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,517 shares of the semiconductor company’s stock, valued at approximately $736,000.

Other hedge funds also recently modified their holdings of the company. Parnassus Investments LLC bought a new stake in shares of Synopsys in the 3rd quarter worth approximately $633,469,000. Edgewood Management LLC increased its stake in 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 acquiring an additional 487,025 shares during the period. Van ECK Associates Corp raised its position in Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after purchasing an additional 335,993 shares in the last quarter. Impax Asset Management Group plc raised its position in Synopsys by 120.2% in the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after purchasing an additional 267,836 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Synopsys by 32.5% in the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after purchasing an additional 257,526 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on SNPS. Wells Fargo & Company cut their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Piper Sandler cut their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Loop Capital began coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

Synopsys Stock Performance

Shares of Synopsys stock opened at $546.19 on Friday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The business’s 50 day simple moving average is $518.68 and its 200 day simple moving average is $524.17. The firm has a market cap of $84.43 billion, a PE ratio of 37.62, a P/E/G ratio of 3.57 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.