MONECO Advisors LLC Invests $216,000 in Synopsys, Inc. (NASDAQ:SNPS)

MONECO Advisors LLC purchased a new position in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 446 shares of the semiconductor company’s stock, valued at approximately $216,000.

Other hedge funds have also made changes to their positions in the company. Kieckhefer Group LLC purchased a new stake in shares of Synopsys in the fourth quarter worth approximately $27,000. Hazlett Burt & Watson Inc. lifted its position in shares of 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 purchasing an additional 20 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Synopsys in the fourth quarter worth approximately $39,000. Princeton Global Asset Management LLC purchased a new stake in shares of Synopsys in the third quarter worth approximately $44,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Synopsys in the fourth quarter worth approximately $51,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Robert W. Baird cut their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Loop Capital assumed coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Wells Fargo & Company cut 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. Finally, Morgan Stanley cut their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $639.58.

Synopsys Stock Down 2.6 %

NASDAQ:SNPS opened at $457.95 on Wednesday. Synopsys, Inc. has a 12 month low of $457.00 and a 12 month high of $624.80. The firm has a market cap of $70.79 billion, a price-to-earnings ratio of 31.54, a P/E/G ratio of 3.23 and a beta of 1.12. The company’s 50 day moving average is $508.09 and its 200-day moving average is $516.89.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s 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 sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

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.