Bowman & Co S.C. Makes New $334,000 Investment in Synopsys, Inc. (NASDAQ:SNPS)

Bowman & Co S.C. purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 688 shares of the semiconductor company’s stock, valued at approximately $334,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SNPS. Moss Adams Wealth Advisors LLC purchased a new position in shares of Synopsys during the 4th quarter worth approximately $246,000. Smith Salley Wealth Management raised its position in Synopsys by 8.1% in the fourth quarter. Smith Salley Wealth Management now owns 2,569 shares of the semiconductor company’s stock worth $1,247,000 after acquiring an additional 193 shares in the last quarter. HB Wealth Management LLC lifted its holdings in Synopsys by 2.0% in the fourth quarter. HB Wealth Management LLC now owns 3,172 shares of the semiconductor company’s stock valued at $1,540,000 after acquiring an additional 63 shares during the period. CGN Advisors LLC grew its stake in shares of Synopsys by 20.9% during the 4th quarter. CGN Advisors LLC now owns 2,767 shares of the semiconductor company’s stock worth $1,343,000 after purchasing an additional 479 shares during the period. Finally, Merit Financial Group LLC increased its holdings in shares of Synopsys by 2,308.7% in the 4th quarter. Merit Financial Group LLC now owns 15,006 shares of the semiconductor company’s stock valued at $7,283,000 after purchasing an additional 14,383 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Up 2.1 %

NASDAQ:SNPS opened at $526.70 on Friday. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The firm has a market cap of $81.42 billion, a price-to-earnings ratio of 36.27, a price-to-earnings-growth ratio of 3.22 and a beta of 1.12. The company’s 50-day moving average is $519.43 and its two-hundred day moving average is $526.11.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SNPS shares. 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 report on Friday, December 6th. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Wednesday, December 4th. Berenberg Bank assumed coverage on Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price on the stock. Finally, Robert W. Baird cut 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. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and an average target price of $641.82.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction 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 completion of the transaction, 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 can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

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.