Verus Capital Partners LLC Boosts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Verus Capital Partners LLC raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 604 shares of the semiconductor company’s stock after acquiring an additional 28 shares during the period. Verus Capital Partners LLC’s holdings in Synopsys were worth $293,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new stake in shares of Synopsys in the fourth quarter worth about $27,000. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys in the fourth quarter worth about $33,000. Hazlett Burt & Watson Inc. boosted 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 buying an additional 20 shares during the period. Sierra Ocean LLC purchased a new stake in shares of Synopsys in the fourth quarter worth about $39,000. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Synopsys in the third quarter worth about $44,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 0.6 %

Shares of NASDAQ SNPS opened at $457.28 on Friday. The stock’s 50 day moving average price is $506.14 and its two-hundred day moving average price is $515.60. Synopsys, Inc. has a 52-week low of $448.11 and a 52-week high of $624.80. The stock has a market capitalization of $70.69 billion, a P/E ratio of 31.49, a PEG ratio of 3.23 and a beta of 1.12.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SNPS. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Robert W. Baird decreased their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Morgan Stanley cut their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Finally, Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. One 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, the company presently has an average rating of “Moderate Buy” and an average target price of $638.58.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.62% of the stock is currently 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.