YANKCOM Partnership Purchases New Holdings in Synopsys, Inc. (NASDAQ:SNPS)

YANKCOM Partnership acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 474 shares of the semiconductor company’s stock, valued at approximately $230,000.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp lifted its position in shares of Synopsys by 1.7% in the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after buying an additional 119,057 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Synopsys by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after purchasing an additional 61,799 shares during the period. Edgewood Management LLC increased its stake in shares of Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after purchasing an additional 487,025 shares during the period. Van ECK Associates Corp increased its stake in shares of Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after purchasing an additional 335,993 shares during the period. Finally, Parnassus Investments LLC bought a new position in shares of Synopsys during the third quarter worth approximately $633,469,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of recent research reports. Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Piper Sandler lowered their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Finally, Mizuho initiated coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s 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 of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is owned by insiders.

Synopsys Stock Performance

Synopsys stock opened at $533.18 on Friday. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The stock has a market capitalization of $82.42 billion, a P/E ratio of 36.72, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12. The stock has a fifty day moving average of $514.44 and a 200-day moving average of $519.45.

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.