Venturi Wealth Management LLC Boosts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Venturi Wealth Management LLC raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 162.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,723 shares of the semiconductor company’s stock after acquiring an additional 1,067 shares during the quarter. Venturi Wealth Management LLC’s holdings in Synopsys were worth $836,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. State Street Corp grew its stake in shares of Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after acquiring an additional 119,057 shares during the period. Geode Capital Management LLC increased its holdings in shares of Synopsys by 1.9% in the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after purchasing an additional 61,799 shares during the last quarter. Edgewood Management LLC increased its stake in Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares during the last quarter. Van ECK Associates Corp increased its stake in 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 acquiring an additional 335,993 shares during the last quarter. Finally, Parnassus Investments LLC bought a new stake in Synopsys during the third quarter worth approximately $633,469,000. 85.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Mizuho assumed coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Thursday, December 5th. Piper Sandler reduced their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Finally, Wells Fargo & Company reduced their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $641.82.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’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 transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by company insiders.

Synopsys Stock Up 0.5 %

NASDAQ SNPS opened at $525.00 on Wednesday. The stock has a market capitalization of $81.15 billion, a P/E ratio of 36.16, a P/E/G ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The firm has a 50-day moving average price of $511.06 and a 200 day moving average price of $517.59.

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.