D.A. Davidson & CO. Acquires 286 Shares of Synopsys, Inc. (NASDAQ:SNPS)

D.A. Davidson & CO. grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.9% during the 4th quarter, HoldingsChannel reports. The fund owned 4,404 shares of the semiconductor company’s stock after acquiring an additional 286 shares during the quarter. D.A. Davidson & CO.’s holdings in Synopsys were worth $2,138,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Kieckhefer Group LLC purchased a new position in shares of Synopsys during the fourth quarter worth approximately $27,000. Hazlett Burt & Watson Inc. increased its stake in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the period. Sierra Ocean LLC purchased a new position in shares of Synopsys in the fourth quarter worth $39,000. Princeton Global Asset Management LLC purchased a new position in shares of Synopsys in the third quarter worth $44,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Synopsys in the fourth quarter worth $51,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Down 3.9 %

Synopsys stock opened at $474.84 on Friday. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The company has a market capitalization of $73.40 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 3.28 and a beta of 1.12. The stock has a 50-day moving average price of $510.88 and a 200 day moving average price of $517.44.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $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 Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SNPS shares. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Wednesday, December 4th. Wells Fargo & Company dropped 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. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. Finally, Piper Sandler reduced their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

Synopsys Company 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.