Catalyst Capital Advisors LLC Acquires 294 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Catalyst Capital Advisors LLC lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 21.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,687 shares of the semiconductor company’s stock after acquiring an additional 294 shares during the period. Catalyst Capital Advisors LLC’s holdings in Synopsys were worth $819,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Kieckhefer Group LLC bought a new position in Synopsys during the fourth quarter valued at approximately $27,000. Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 40.0% during 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 during the last quarter. Sierra Ocean LLC bought a new position in Synopsys during the fourth quarter valued at approximately $39,000. Princeton Global Asset Management LLC bought a new position in Synopsys during the third quarter valued at approximately $44,000. Finally, nVerses Capital LLC bought a new position in Synopsys during the third quarter valued at approximately $51,000. Institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

SNPS has been the subject of a number of research reports. Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Wells Fargo & Company dropped their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. 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 note on Friday, December 6th. Mizuho assumed coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective on the stock. Finally, Redburn Atlantic assumed coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $522.53 on Tuesday. The business’s 50 day moving average price is $510.78 and its 200-day moving average price is $517.72. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The company has a market cap of $80.77 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 3.49 and a beta of 1.12.

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.