Investment House LLC Has $2.42 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Investment House LLC lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 247.9% during the 4th quarter, HoldingsChannel reports. The fund owned 4,989 shares of the semiconductor company’s stock after buying an additional 3,555 shares during the period. Investment House LLC’s holdings in Synopsys were worth $2,421,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kieckhefer Group LLC acquired a new stake in shares of Synopsys in the fourth quarter worth $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Synopsys in the fourth quarter worth $33,000. Sierra Ocean LLC acquired a new stake in shares of Synopsys in the fourth quarter worth $39,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Synopsys in the fourth quarter worth $51,000. Finally, Versant Capital Management Inc lifted its position in Synopsys by 109.3% in the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Down 1.2 %

Synopsys stock opened at $447.99 on Wednesday. The stock has a 50-day simple moving average of $494.15 and a 200 day simple moving average of $507.35. Synopsys, Inc. has a 12-month low of $425.73 and a 12-month high of $624.80. The stock has a market capitalization of $69.27 billion, a price-to-earnings ratio of 30.85, a P/E/G ratio of 3.23 and a beta of 1.16.

Wall Street Analyst Weigh In

SNPS has been the subject of several research reports. Robert W. Baird reduced 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. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Morgan Stanley reduced their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Finally, Wells Fargo & Company reduced their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock valued at $22,794,835 over the last ninety days. 0.62% of the stock is owned by insiders.

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.