Davidson Capital Management Inc. Acquires 1,124 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Davidson Capital Management Inc. grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 23.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,874 shares of the semiconductor company’s stock after buying an additional 1,124 shares during the period. Davidson Capital Management Inc.’s holdings in Synopsys were worth $2,851,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Parnassus Investments LLC bought a new position in Synopsys during the third quarter worth $633,469,000. Edgewood Management LLC raised its holdings in shares of Synopsys by 18.9% during 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 period. Van ECK Associates Corp boosted its position in shares of 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 purchasing an additional 335,993 shares in the last quarter. Impax Asset Management Group plc grew its stake in shares of 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 period. Finally, Wellington Management Group LLP increased its position in Synopsys by 32.5% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The shares were 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

Synopsys Stock Down 0.4 %

Shares of NASDAQ SNPS opened at $529.14 on Wednesday. The company has a market capitalization of $81.79 billion, a PE ratio of 36.44, a PEG ratio of 3.49 and a beta of 1.12. The stock’s 50 day moving average price is $512.80 and its 200-day moving average price is $518.34. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Berenberg Bank began coverage on Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. Mizuho began coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price on the stock. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. Piper Sandler lowered their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Finally, Redburn Atlantic initiated 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 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 has an average rating of “Moderate Buy” and a consensus price target 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.