Cornerstone Advisors LLC Raises Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Cornerstone Advisors LLC boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 175.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,700 shares of the semiconductor company’s stock after buying an additional 4,900 shares during the period. Cornerstone Advisors LLC’s holdings in Synopsys were worth $3,737,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Kieckhefer Group LLC purchased a new stake in Synopsys in the 4th quarter worth $27,000. Whipplewood Advisors LLC purchased a new stake in Synopsys in the 4th quarter worth $33,000. Sierra Ocean LLC purchased a new stake in Synopsys in the 4th quarter worth $39,000. Newbridge Financial Services Group Inc. purchased a new stake in Synopsys in the 4th quarter worth $51,000. Finally, Versant Capital Management Inc grew its position in shares of Synopsys by 109.3% during the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 4.7 %

Shares of NASDAQ:SNPS opened at $429.85 on Tuesday. Synopsys, Inc. has a 12 month low of $427.30 and a 12 month high of $624.80. The company has a 50-day moving average price of $500.07 and a 200 day moving average price of $510.83. The company has a market cap of $66.46 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 3.23 and a beta of 1.16.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SNPS shares. Loop Capital started coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Robert W. Baird cut their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Finally, Piper Sandler cut their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were 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 owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock valued at $22,794,835 over the last 90 days. Insiders own 0.62% of the company’s stock.

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.