Dock Street Asset Management Inc. Boosts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Dock Street Asset Management Inc. raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 0.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,428 shares of the semiconductor company’s stock after purchasing an additional 26 shares during the quarter. Synopsys accounts for about 1.2% of Dock Street Asset Management Inc.’s holdings, making the stock its 21st biggest position. Dock Street Asset Management Inc.’s holdings in Synopsys were worth $10,400,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. Hazlett Burt & Watson Inc. increased its holdings 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 buying an additional 20 shares in the last quarter. Caprock Group LLC boosted its position in Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after purchasing an additional 20 shares in the last quarter. Aptus Capital Advisors LLC grew its holdings in Synopsys by 1.5% in the third quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock valued at $733,000 after purchasing an additional 22 shares during the last quarter. Resurgent Financial Advisors LLC increased its position in shares of Synopsys by 2.8% in the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after buying an additional 22 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of Synopsys by 6.1% during the 3rd quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock worth $202,000 after buying an additional 23 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Up 0.9 %

Shares of SNPS opened at $533.18 on Friday. The firm has a market cap of $82.42 billion, a PE ratio of 36.72, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12. The company’s fifty day moving average is $514.15 and its two-hundred day moving average is $519.55. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Piper Sandler dropped their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Wells Fargo & Company dropped their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Berenberg Bank initiated coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Insider Activity at Synopsys

In other Synopsys 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 transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by 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.