Strategic Financial Concepts LLC Invests $25.44 Million in Synopsys, Inc. (NASDAQ:SNPS)

Strategic Financial Concepts LLC bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 52,422 shares of the semiconductor company’s stock, valued at approximately $25,444,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNPS. State Street Corp raised its stake in shares of Synopsys by 1.7% in the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after purchasing an additional 119,057 shares during the last quarter. Geode Capital Management LLC increased its holdings in Synopsys by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after buying an additional 61,799 shares during the period. Edgewood Management LLC raised its position in Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after buying an additional 487,025 shares during the last quarter. Van ECK Associates Corp raised its position in Synopsys by 26.5% during the 3rd 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 last quarter. Finally, Parnassus Investments LLC acquired a new stake in Synopsys during the 3rd quarter valued at approximately $633,469,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Robert W. Baird reduced their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Piper Sandler cut their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Berenberg Bank started coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Finally, Mizuho assumed coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target for the company. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $641.82.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The stock was 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 approximately $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

NASDAQ:SNPS opened at $525.82 on Friday. The stock has a market capitalization of $81.28 billion, a PE ratio of 36.21, a P/E/G ratio of 3.44 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The company has a fifty day moving average of $514.15 and a two-hundred day moving average of $519.55.

About Synopsys

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.