Whalen Wealth Management Inc. Makes New $439,000 Investment in Synopsys, Inc. (NASDAQ:SNPS)

Whalen Wealth Management Inc. acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 905 shares of the semiconductor company’s stock, valued at approximately $439,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNPS. State Street Corp raised its position in Synopsys by 1.7% in the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after purchasing an additional 119,057 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Synopsys by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after purchasing an additional 61,799 shares during the period. Edgewood Management LLC raised its holdings 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 worth $1,554,540,000 after buying an additional 487,025 shares in the last quarter. Van ECK Associates Corp lifted 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 buying an additional 335,993 shares during the period. Finally, Parnassus Investments LLC acquired a new stake in Synopsys in the 3rd quarter valued at $633,469,000. 85.47% of the stock is owned by institutional investors.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.66% of the company’s stock.

Synopsys Stock Up 2.8 %

Synopsys stock opened at $544.70 on Thursday. The business’s 50-day simple moving average is $518.10 and its 200 day simple moving average is $524.47. The stock has a market cap of $84.20 billion, a price-to-earnings ratio of 37.51, a P/E/G ratio of 3.47 and a beta of 1.12. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Wednesday, December 4th. Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Berenberg Bank initiated coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Wells Fargo & Company reduced their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

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.