Magnolia Capital Advisors LLC Makes New $245,000 Investment in Synopsys, Inc. (NASDAQ:SNPS)

Magnolia Capital Advisors LLC purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 505 shares of the semiconductor company’s stock, valued at approximately $245,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNPS. Parnassus Investments LLC purchased a new stake in shares of Synopsys during the 3rd quarter worth about $633,469,000. Edgewood Management LLC raised its stake in shares of Synopsys by 18.9% during the 3rd 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 in the last quarter. Van ECK Associates Corp raised its stake in shares of Synopsys by 26.5% during the 3rd 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 in the last quarter. Impax Asset Management Group plc raised its stake in shares of Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after purchasing an additional 267,836 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Synopsys by 32.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after purchasing an additional 257,526 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Trading Down 0.2 %

Shares of NASDAQ:SNPS opened at $525.48 on Monday. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The firm has a market capitalization of $81.23 billion, a PE ratio of 36.19, a PEG ratio of 3.44 and a beta of 1.12. The business’s 50 day moving average is $516.26 and its 200-day moving average is $520.30.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SNPS shares. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. 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 note on Friday, December 6th. Mizuho started coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Finally, Berenberg Bank started coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and an average price target of $641.82.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred 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 sale, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by insiders.

Synopsys Company 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.