Pacer Advisors Inc. Has $10.43 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Pacer Advisors Inc. increased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,481 shares of the semiconductor company’s stock after buying an additional 1,173 shares during the period. Pacer Advisors Inc.’s holdings in Synopsys were worth $10,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Parnassus Investments LLC bought a new position in shares of Synopsys in the third quarter worth $633,469,000. Edgewood Management LLC boosted its stake in shares of Synopsys by 18.9% in the 3rd 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 in the last quarter. Van ECK Associates Corp increased its holdings 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 worth $791,923,000 after buying an additional 335,993 shares in the last quarter. Impax Asset Management Group plc raised its holdings in Synopsys by 120.2% in the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after buying an additional 267,836 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Synopsys by 32.5% during the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after purchasing an additional 257,526 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated 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 completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SNPS has been the subject of several analyst reports. Redburn Atlantic started coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Piper Sandler decreased their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Mizuho initiated coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Wells Fargo & Company reduced their price objective on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Robert W. Baird lowered their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Trading Up 3.0 %

Shares of NASDAQ:SNPS opened at $526.12 on Wednesday. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The stock has a market cap of $81.33 billion, a PE ratio of 36.23, a price-to-earnings-growth ratio of 3.57 and a beta of 1.12. The stock’s fifty day simple moving average is $518.41 and its two-hundred day simple moving average is $522.22.

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.