CGN Advisors LLC Purchases 479 Shares of Synopsys, Inc. (NASDAQ:SNPS)

CGN Advisors LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 20.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,767 shares of the semiconductor company’s stock after acquiring an additional 479 shares during the period. CGN Advisors LLC’s holdings in Synopsys were worth $1,343,000 as of its most recent filing with the Securities and Exchange Commission.

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

Synopsys Stock Performance

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 company has a market cap of $81.42 billion, a price-to-earnings ratio of 36.27, a PEG ratio of 3.22 and a beta of 1.12. The stock has a fifty day moving average price of $519.43 and a 200-day moving average price of $526.69.

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 shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SNPS shares. Wells Fargo & Company cut their price target on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Thursday, December 5th. Mizuho initiated coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target for the company. Piper Sandler dropped their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $641.82.

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.