Concord Asset Management LLC VA Has $1.11 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Concord Asset Management LLC VA lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 42.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,295 shares of the semiconductor company’s stock after buying an additional 687 shares during the quarter. Concord Asset Management LLC VA’s holdings in Synopsys were worth $1,114,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SNPS. Pacifica Partners Inc. acquired a new stake in Synopsys during the 3rd quarter worth $25,000. Kieckhefer Group LLC bought a new stake in Synopsys in the fourth quarter valued at about $27,000. Tsfg LLC lifted its stake in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares during the period. Hazlett Burt & Watson Inc. boosted its holdings in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Synopsys during the 3rd quarter worth about $44,000. 85.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Piper Sandler reduced their price objective 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. Loop Capital began coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Mizuho began coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Finally, Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $641.82.

Insider Transactions at Synopsys

In related 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 value of $10,544,236.38. Following the sale, the executive now owns 1,460 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by insiders.

Synopsys Stock Performance

NASDAQ SNPS opened at $525.48 on Friday. The stock has a market capitalization of $81.23 billion, a price-to-earnings ratio of 36.19, a PEG ratio of 3.36 and a beta of 1.12. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The stock’s 50 day moving average price is $517.05 and its two-hundred day moving average price is $521.58.

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.