Bowman & Co S.C. Purchases New Stake in Synopsys, Inc. (NASDAQ:SNPS)

Bowman & Co S.C. acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 688 shares of the semiconductor company’s stock, valued at approximately $334,000.

Several other large investors also recently added to or reduced their stakes in SNPS. Pacifica Partners Inc. acquired a new stake in shares of Synopsys during the 3rd quarter worth approximately $25,000. Kieckhefer Group LLC purchased a new position in Synopsys in the fourth quarter worth approximately $27,000. Tsfg LLC increased its stake in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares during the last quarter. Hazlett Burt & Watson Inc. raised its position in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Synopsys in the 3rd quarter valued at $44,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Up 2.1 %

Shares of NASDAQ:SNPS opened at $526.70 on Friday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The firm’s 50 day moving average price is $519.43 and its 200 day moving average price is $526.11. The stock has a market cap of $81.42 billion, a price-to-earnings ratio of 36.27, a price-to-earnings-growth ratio of 3.22 and a beta of 1.12.

Analysts Set New Price Targets

SNPS has been the topic of a number of recent analyst reports. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Rosenblatt Securities restated a “buy” rating and set a $635.00 price target on shares of Synopsys in a research note on Wednesday, December 4th. Finally, Piper Sandler dropped their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred 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 transaction, the executive now owns 1,460 shares of the company’s stock, 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 SEC, which is available at this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

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.