D.A. Davidson & CO. Has $2.14 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

D.A. Davidson & CO. increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,404 shares of the semiconductor company’s stock after buying an additional 286 shares during the period. D.A. Davidson & CO.’s holdings in Synopsys were worth $2,138,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SNPS. Kieckhefer Group LLC acquired a new stake in Synopsys during the 4th quarter worth approximately $27,000. Hazlett Burt & Watson Inc. lifted its position in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares during the period. Sierra Ocean LLC acquired a new position in shares of Synopsys in the 4th quarter worth approximately $39,000. Princeton Global Asset Management LLC acquired a new position in shares of Synopsys during the 3rd quarter valued at $44,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Synopsys during the 4th quarter valued at $51,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Down 3.9 %

Shares of Synopsys stock opened at $474.84 on Friday. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The company has a market cap of $73.40 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 3.28 and a beta of 1.12. The company’s 50-day moving average price is $510.88 and its 200-day moving average price is $517.44.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price 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. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Piper Sandler reduced their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Loop Capital began coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Finally, Rosenblatt Securities restated a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and an average target price of $641.82.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company’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 transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This represents 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 the SEC website. Insiders own 0.66% of the company’s stock.

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.