Bourgeon Capital Management LLC Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Bourgeon Capital Management LLC bought a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,453 shares of the semiconductor company’s stock, valued at approximately $705,000.

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

Synopsys Stock Up 0.6 %

SNPS stock opened at $529.75 on Wednesday. The company has a 50-day simple moving average of $518.84 and a 200 day simple moving average of $524.97. The company has a market capitalization of $81.89 billion, a P/E ratio of 36.48, a PEG ratio of 3.45 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.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction 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 sale, the executive now owns 1,460 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SNPS shares. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. Loop Capital started coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Redburn Atlantic began coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Berenberg Bank assumed coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Finally, Robert W. Baird reduced their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and an average 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.