Transcend Capital Advisors LLC Purchases 124 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Transcend Capital Advisors LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,798 shares of the semiconductor company’s stock after buying an additional 124 shares during the period. Transcend Capital Advisors LLC’s holdings in Synopsys were worth $873,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Kieckhefer Group LLC purchased a new stake in shares of Synopsys in the 4th quarter valued at about $27,000. Hazlett Burt & Watson Inc. increased its position in shares of Synopsys by 40.0% in the third 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 last quarter. Sierra Ocean LLC purchased a new stake in Synopsys in the fourth quarter valued at approximately $39,000. Princeton Global Asset Management LLC purchased a new stake in Synopsys in the third quarter valued at approximately $44,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Synopsys during the fourth quarter valued at approximately $51,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated 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 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 SEC, which is accessible through this hyperlink. 0.66% of the stock is owned by insiders.

Synopsys Price Performance

Shares of Synopsys stock opened at $474.84 on Friday. The stock has a market capitalization of $73.40 billion, a P/E ratio of 32.70, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The business’s 50 day simple moving average is $510.21 and its two-hundred day simple moving average is $517.35.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SNPS shares. Loop Capital assumed coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Robert W. Baird lowered their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Wells Fargo & Company cut their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. Finally, Piper Sandler dropped their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $641.82.

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.