Concord Wealth Partners Purchases 729 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Concord Wealth Partners boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 47.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,261 shares of the semiconductor company’s stock after purchasing an additional 729 shares during the quarter. Concord Wealth Partners’ holdings in Synopsys were worth $1,097,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SNPS. State Street Corp grew its position in Synopsys by 1.7% during the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after buying an additional 119,057 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Synopsys by 1.9% in 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 raised its stake in Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after purchasing an additional 487,025 shares in the last quarter. Van ECK Associates Corp lifted its position in 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 acquired a new stake in Synopsys during the third quarter worth about $633,469,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS stock opened at $525.48 on Friday. The stock has a market capitalization of $81.23 billion, a PE ratio of 36.19, a PEG ratio of 3.36 and a beta of 1.12. The business’s 50 day simple moving average is $517.05 and its 200 day simple moving average is $521.58. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Loop Capital began coverage on shares of Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Robert W. Baird decreased their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Piper Sandler lowered their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Berenberg Bank initiated coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and an average target price of $641.82.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction 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 transaction, the executive now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by insiders.

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.