Bank of New York Mellon Corp Has $527.22 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Bank of New York Mellon Corp grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,086,249 shares of the semiconductor company’s stock after buying an additional 3,533 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.70% of Synopsys worth $527,222,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SNPS. Parnassus Investments LLC bought a new stake in Synopsys during the 3rd quarter worth about $633,469,000. Edgewood Management LLC lifted its position in shares of Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after purchasing an additional 487,025 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after purchasing an additional 335,993 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Synopsys by 120.2% in the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after purchasing an additional 267,836 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after purchasing an additional 257,526 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on SNPS shares. Loop Capital initiated coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Redburn Atlantic began coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday. Morgan Stanley cut their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Piper Sandler reduced their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $639.58.

Synopsys Stock Performance

SNPS opened at $457.95 on Wednesday. The firm’s fifty day moving average is $508.09 and its two-hundred day moving average is $516.89. The firm has a market cap of $70.79 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $457.00 and a twelve month high of $624.80.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated 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 transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.66% of the stock is owned by corporate 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.