Dana Investment Advisors Inc. Acquires 124 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Dana Investment Advisors Inc. boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,716 shares of the semiconductor company’s stock after acquiring an additional 124 shares during the period. Dana Investment Advisors Inc.’s holdings in Synopsys were worth $7,143,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SNPS. Kieckhefer Group LLC purchased a new stake in shares of Synopsys during the 4th quarter worth $27,000. Whipplewood Advisors LLC bought a new position in Synopsys in the fourth quarter worth about $33,000. Sierra Ocean LLC purchased a new stake in shares of Synopsys during the fourth quarter valued at about $39,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Synopsys in the 4th quarter valued at about $51,000. Finally, Versant Capital Management Inc grew its position in shares of Synopsys by 109.3% in the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after buying an additional 59 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Piper Sandler reduced their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Morgan Stanley dropped their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Robert W. Baird reduced their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Finally, Wells Fargo & Company lowered their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 completion of the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS opened at $447.96 on Thursday. The business’s 50-day moving average is $503.01 and its two-hundred day moving average is $513.56. The company has a market capitalization of $69.26 billion, a P/E ratio of 30.85, a P/E/G ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $429.77 and a fifty-two week high of $624.80.

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.