Concord Asset Management LLC VA Acquires 687 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Concord Asset Management LLC VA boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 42.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,295 shares of the semiconductor company’s stock after acquiring an additional 687 shares during the period. Concord Asset Management LLC VA’s holdings in Synopsys were worth $1,114,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Quarry LP bought a new position in Synopsys in the 2nd quarter valued at about $64,000. Sanctuary Advisors LLC bought a new position in shares of Synopsys during the second quarter worth approximately $7,001,000. Newbridge Financial Services Group Inc. lifted its holdings in Synopsys by 182.4% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 96 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 62 shares during the last quarter. Czech National Bank boosted its stake in Synopsys by 7.3% in the 3rd quarter. Czech National Bank now owns 31,211 shares of the semiconductor company’s stock valued at $15,805,000 after purchasing an additional 2,124 shares during the period. Finally, HBW Advisory Services LLC acquired a new position in Synopsys in the 3rd quarter valued at $265,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SNPS shares. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Piper Sandler cut their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Wells Fargo & Company lowered their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. 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. Finally, Berenberg Bank assumed coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

Insiders Place Their Bets

In other Synopsys 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Synopsys stock opened at $525.48 on Friday. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The stock has a market capitalization of $81.23 billion, a P/E ratio of 36.19, a price-to-earnings-growth ratio of 3.36 and a beta of 1.12. The stock has a fifty day moving average of $517.05 and a 200-day moving average of $521.58.

Synopsys 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.