Stock Yards Bank & Trust Co. Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Stock Yards Bank & Trust Co. bought a new position in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, HoldingsChannel.com reports. The fund bought 1,463 shares of the semiconductor company’s stock, valued at approximately $710,000.

A number of other large investors also recently modified their holdings of SNPS. Pacifica Partners Inc. acquired a new position in Synopsys in the third quarter valued at approximately $25,000. Kieckhefer Group LLC bought a new stake in shares of Synopsys during the 4th quarter valued at $27,000. Tsfg LLC lifted its stake in shares of Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares during the period. Hazlett Burt & Watson Inc. boosted its position in shares of Synopsys by 40.0% in the 3rd 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. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Synopsys during the third quarter worth $44,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s 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 transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on SNPS. Robert W. Baird cut their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, December 5th. Mizuho started coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective on the stock. Piper Sandler reduced their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Finally, Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Price Performance

NASDAQ:SNPS opened at $520.25 on Tuesday. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The company has a market cap of $80.42 billion, a P/E ratio of 35.83, a P/E/G ratio of 3.44 and a beta of 1.12. The firm’s fifty day moving average price is $516.26 and its two-hundred day moving average price is $519.95.

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.