New York Life Investment Management LLC Has $11.12 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

New York Life Investment Management LLC lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,902 shares of the semiconductor company’s stock after buying an additional 125 shares during the quarter. New York Life Investment Management LLC’s holdings in Synopsys were worth $11,116,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new position in shares of Synopsys during the 4th quarter worth about $33,000. Oregon Public Employees Retirement Fund boosted its holdings in Synopsys by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,169 shares of the semiconductor company’s stock worth $6,392,000 after acquiring an additional 49 shares in the last quarter. Impact Investors Inc bought a new position in Synopsys in the fourth quarter worth approximately $395,000. Lake Street Advisors Group LLC grew its stake in Synopsys by 14.2% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,055 shares of the semiconductor company’s stock valued at $512,000 after acquiring an additional 131 shares during the period. Finally, FFT Wealth Management LLC increased its holdings in shares of Synopsys by 3.3% during the fourth quarter. FFT Wealth Management LLC now owns 9,689 shares of the semiconductor company’s stock valued at $4,703,000 after acquiring an additional 310 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

SNPS has been the topic of a number of recent research reports. Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday. Robert W. Baird dropped their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Wells Fargo & Company decreased their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday. Redburn Atlantic began coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Stock Down 3.3 %

Shares of NASDAQ SNPS opened at $454.71 on Friday. The company has a market capitalization of $70.29 billion, a PE ratio of 31.32, a PEG ratio of 3.23 and a beta of 1.12. The stock’s 50 day moving average price is $506.84 and its 200-day moving average price is $516.13. Synopsys, Inc. has a twelve month low of $454.05 and a twelve month high of $624.80.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction 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 trade represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

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.