Bourgeon Capital Management LLC Purchases Shares of 1,453 Synopsys, Inc. (NASDAQ:SNPS)

Bourgeon Capital Management LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,453 shares of the semiconductor company’s stock, valued at approximately $705,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AE Wealth Management LLC raised its stake in Synopsys by 4.8% during the 2nd quarter. AE Wealth Management LLC now owns 3,678 shares of the semiconductor company’s stock valued at $2,189,000 after acquiring an additional 169 shares during the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of Synopsys by 7.2% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,483 shares of the semiconductor company’s stock valued at $882,000 after buying an additional 100 shares during the period. Resources Management Corp CT ADV boosted its stake in shares of Synopsys by 189.0% in the second quarter. Resources Management Corp CT ADV now owns 341 shares of the semiconductor company’s stock valued at $203,000 after buying an additional 223 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Synopsys by 61.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 29,221 shares of the semiconductor company’s stock worth $17,388,000 after acquiring an additional 11,075 shares during the period. Finally, APG Asset Management US Inc. raised its position in Synopsys by 2.2% in the second quarter. APG Asset Management US Inc. now owns 47,487 shares of the semiconductor company’s stock worth $28,575,000 after acquiring an additional 1,012 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Mizuho began coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Loop Capital began coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. Berenberg Bank started coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. Piper Sandler lowered their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $641.82.

Synopsys Trading Up 0.6 %

NASDAQ:SNPS opened at $529.75 on Wednesday. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The firm has a market cap of $81.89 billion, a price-to-earnings ratio of 36.48, a price-to-earnings-growth ratio of 3.45 and a beta of 1.12. The company’s 50-day moving average is $518.84 and its two-hundred day moving average is $524.97.

Insider Activity

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