Proficio Capital Partners LLC Purchases 385,808 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Proficio Capital Partners LLC increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 71,578.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 386,347 shares of the semiconductor company’s stock after purchasing an additional 385,808 shares during the period. Proficio Capital Partners LLC owned approximately 0.25% of Synopsys worth $187,517,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SNPS. State Street Corp lifted its stake in Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after acquiring an additional 119,057 shares during the period. Geode Capital Management LLC lifted its stake in Synopsys by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after acquiring an additional 61,799 shares during the period. Edgewood Management LLC lifted its stake in Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after acquiring an additional 487,025 shares during the period. Van ECK Associates Corp lifted its stake in Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after acquiring an additional 335,993 shares during the period. Finally, Parnassus Investments LLC bought a new position in Synopsys during the 3rd quarter valued at about $633,469,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 2.7 %

Synopsys stock opened at $470.46 on Thursday. Synopsys, Inc. has a 12-month low of $457.00 and a 12-month high of $624.80. The firm has a 50 day moving average of $507.61 and a 200 day moving average of $516.56. The firm has a market capitalization of $72.72 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 3.23 and a beta of 1.12.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the 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 of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several research analyst reports. Piper Sandler lowered their target price on shares of 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 began coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Loop Capital began coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Wells Fargo & Company lowered their price objective on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and an average price target of $639.58.

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.