Cibc World Market Inc. Purchases 21,305 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Cibc World Market Inc. grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 99.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,767 shares of the semiconductor company’s stock after purchasing an additional 21,305 shares during the quarter. Cibc World Market Inc.’s holdings in Synopsys were worth $20,757,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Invesco LLC boosted its position in Synopsys by 3.9% during the fourth quarter. Invesco LLC now owns 2,426 shares of the semiconductor company’s stock valued at $1,177,000 after buying an additional 91 shares during the period. Hantz Financial Services Inc. boosted its holdings in Synopsys by 13.7% during the 4th quarter. Hantz Financial Services Inc. now owns 5,320 shares of the semiconductor company’s stock valued at $2,582,000 after acquiring an additional 643 shares during the period. Smith Group Asset Management LLC bought a new position in Synopsys during the 4th quarter worth approximately $1,456,000. Fulton Breakefield Broenniman LLC increased its stake in Synopsys by 14.9% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 971 shares of the semiconductor company’s stock worth $471,000 after purchasing an additional 126 shares during the period. Finally, Bensler LLC lifted its position in Synopsys by 17.1% in the fourth quarter. Bensler LLC now owns 11,388 shares of the semiconductor company’s stock valued at $5,527,000 after purchasing an additional 1,665 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Trading Down 0.2 %

Shares of Synopsys stock opened at $525.48 on Friday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The firm has a market capitalization of $81.23 billion, a P/E ratio of 36.19, a P/E/G ratio of 3.36 and a beta of 1.12. The business has a fifty day simple moving average of $517.05 and a two-hundred day simple moving average of $521.58.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SNPS shares. Loop Capital started coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Robert W. Baird decreased their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Wells Fargo & Company reduced their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Piper Sandler cut their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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 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 transaction, 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 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 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.