Sage Mountain Advisors LLC Acquires 100 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Sage Mountain Advisors LLC grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 18.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 636 shares of the semiconductor company’s stock after acquiring an additional 100 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Synopsys were worth $309,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Impax Asset Management Group plc increased its stake in Synopsys by 120.2% in the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after buying an additional 267,836 shares during the period. Verdence Capital Advisors LLC lifted its holdings in shares of Synopsys by 32.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 567 shares of the semiconductor company’s stock worth $287,000 after buying an additional 139 shares during the period. Nations Financial Group Inc. IA ADV increased its position in Synopsys by 4.3% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 1,121 shares of the semiconductor company’s stock valued at $568,000 after purchasing an additional 46 shares during the period. Apollon Wealth Management LLC boosted its position in Synopsys by 5.0% during the third quarter. Apollon Wealth Management LLC now owns 4,505 shares of the semiconductor company’s stock valued at $2,281,000 after purchasing an additional 214 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Synopsys during the third quarter valued at approximately $467,000. 85.47% of the stock is currently owned by institutional investors.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the sale, the chief executive officer now owns 70,922 shares of the company’s stock, valued at $32,890,077.50. The trade was a 13.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents a 93.45 % 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 in the last three months. 0.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on SNPS. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Robert W. Baird decreased their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Morgan Stanley dropped their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Finally, Wells Fargo & Company lowered their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Stock Up 0.4 %

Synopsys stock opened at $432.46 on Thursday. Synopsys, Inc. has a 52 week low of $427.30 and a 52 week high of $624.80. The business’s 50-day moving average price is $497.92 and its 200 day moving average price is $509.52. The firm has a market cap of $66.87 billion, a price-to-earnings ratio of 29.78, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

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.