Ferguson Wellman Capital Management Inc. Has $219,000 Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Ferguson Wellman Capital Management Inc. boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 451 shares of the semiconductor company’s stock after buying an additional 50 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Synopsys were worth $219,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in SNPS. Kieckhefer Group LLC bought a new stake in shares of Synopsys during the fourth quarter worth approximately $27,000. Tsfg LLC boosted its holdings in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares during the period. Hazlett Burt & Watson Inc. boosted its holdings in shares of Synopsys by 40.0% during 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 period. Princeton Global Asset Management LLC bought a new stake in shares of Synopsys during the third quarter worth approximately $44,000. Finally, nVerses Capital LLC bought a new stake in shares of Synopsys during the third quarter worth approximately $51,000. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

SNPS has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Mizuho began coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target for the company. Wells Fargo & Company cut their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Robert W. Baird cut their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and an average target price of $641.82.

Synopsys Price Performance

NASDAQ SNPS opened at $531.33 on Tuesday. The business has a fifty day moving average price of $513.49 and a two-hundred day moving average price of $518.39. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The stock has a market capitalization of $82.13 billion, a PE ratio of 36.59, a PEG ratio of 3.49 and a beta of 1.12.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction 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 sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.66% of the company’s stock.

Synopsys 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.