Smith Salley Wealth Management Boosts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Smith Salley Wealth Management lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,569 shares of the semiconductor company’s stock after purchasing an additional 193 shares during the quarter. Smith Salley Wealth Management’s holdings in Synopsys were worth $1,247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNPS. Argent Trust Co increased its position in shares of Synopsys by 12.1% during the second quarter. Argent Trust Co now owns 464 shares of the semiconductor company’s stock valued at $276,000 after acquiring an additional 50 shares during the last quarter. Bridges Investment Management Inc. acquired a new stake in shares of Synopsys in the second quarter valued at $437,000. King Luther Capital Management Corp raised its holdings in shares of Synopsys by 50.6% in the 2nd quarter. King Luther Capital Management Corp now owns 9,313 shares of the semiconductor company’s stock valued at $5,542,000 after buying an additional 3,129 shares during the period. AE Wealth Management LLC lifted its stake in Synopsys by 4.8% during the 2nd quarter. AE Wealth Management LLC now owns 3,678 shares of the semiconductor company’s stock worth $2,189,000 after acquiring an additional 169 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Synopsys by 1.7% during the 2nd quarter. Pacer Advisors Inc. now owns 20,614 shares of the semiconductor company’s stock valued at $12,267,000 after acquiring an additional 338 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Performance

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

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated 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 sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SNPS shares. Mizuho initiated coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Robert W. Baird reduced their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Berenberg Bank assumed coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. Wells Fargo & Company cut their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Synopsys 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.