Bank of New York Mellon Corp Has $527.22 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Bank of New York Mellon Corp increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,086,249 shares of the semiconductor company’s stock after acquiring an additional 3,533 shares during the period. Bank of New York Mellon Corp’s holdings in Synopsys were worth $527,222,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SNPS. Davidson Capital Management Inc. raised its stake in shares of Synopsys by 33,828.6% in 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 during the period. Peloton Wealth Strategists grew its holdings 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 raised its position in Synopsys by 0.7% in the 3rd 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 last quarter. Parnassus Investments LLC acquired a new stake in Synopsys in the 3rd quarter valued at approximately $633,469,000. Finally, Harvest Portfolios Group Inc. lifted its stake in Synopsys by 3.7% in 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 in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Down 2.6 %

Shares of NASDAQ SNPS opened at $457.95 on Wednesday. Synopsys, Inc. has a twelve month low of $457.00 and a twelve month high of $624.80. The company has a market cap of $70.79 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. The business’s 50 day moving average price is $508.09 and its two-hundred day moving average price is $516.89.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday. Piper Sandler cut their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Loop Capital assumed coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Finally, Robert W. Baird lowered their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and an average price target of $639.58.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was 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 of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by insiders.

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.