CMH Wealth Management LLC Has $6.92 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

CMH Wealth Management LLC lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 5.5% in the fourth quarter, Holdings Channel reports. The fund owned 14,261 shares of the semiconductor company’s stock after selling 823 shares during the quarter. Synopsys accounts for approximately 1.6% of CMH Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding. CMH Wealth Management LLC’s holdings in Synopsys were worth $6,922,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

Synopsys Trading Up 2.1 %

SNPS stock opened at $526.70 on Tuesday. The firm has a market cap of $81.42 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 3.45 and a beta of 1.12. The stock has a 50-day moving average price of $519.43 and a 200-day moving average price of $525.54. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. Berenberg Bank began coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Robert W. Baird cut their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Finally, Mizuho initiated 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. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $641.82.

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.