Davidson Capital Management Inc. Has $2.85 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Davidson Capital Management Inc. increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 23.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,874 shares of the semiconductor company’s stock after buying an additional 1,124 shares during the quarter. Davidson Capital Management Inc.’s holdings in Synopsys were worth $2,851,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNPS. Peloton Wealth Strategists increased its position in shares of Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after purchasing an additional 1,984 shares during the period. Swiss National Bank grew its stake in Synopsys by 0.7% during the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after buying an additional 3,200 shares in the last quarter. Parnassus Investments LLC bought a new position in Synopsys in the 3rd quarter valued at about $633,469,000. Harvest Portfolios Group Inc. lifted its holdings in shares of Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after acquiring an additional 1,496 shares during the period. Finally, Nordea Investment Management AB increased its stake in Synopsys by 15.9% in the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after acquiring an additional 143,284 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Down 0.4 %

NASDAQ SNPS opened at $529.14 on Wednesday. The company has a market capitalization of $81.79 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The stock has a fifty day simple moving average of $512.80 and a 200 day simple moving average of $518.34.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SNPS shares. Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Wells Fargo & Company dropped their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Piper Sandler decreased their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Finally, Berenberg Bank began coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

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.