Sheaff Brock Investment Advisors LLC Raises Stake in Synopsys, Inc. (NASDAQ:SNPS)

Sheaff Brock Investment Advisors LLC raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,542 shares of the semiconductor company’s stock after buying an additional 46 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Synopsys were worth $2,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Davidson Capital Management Inc. lifted its stake in Synopsys by 33,828.6% in the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after purchasing an additional 4,736 shares in the last quarter. Peloton Wealth Strategists raised its position in shares of Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after buying an additional 1,984 shares in the last quarter. Swiss National Bank boosted its stake in Synopsys by 0.7% during the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after buying an additional 3,200 shares during the period. Parnassus Investments LLC purchased a new position in Synopsys during the third quarter worth about $633,469,000. Finally, Harvest Portfolios Group Inc. grew its position in Synopsys by 3.7% during the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after buying an additional 1,496 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Down 1.1 %

NASDAQ SNPS opened at $522.53 on Friday. The company has a 50-day simple moving average of $510.78 and a two-hundred day simple moving average of $518.06. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The firm has a market cap of $80.77 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 3.49 and a beta of 1.12.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred on 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SNPS has been the topic of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Wells Fargo & Company cut their price target on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Loop Capital began coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. Finally, Redburn Atlantic began coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective for the company. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

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.