Empowered Funds LLC Raises Position in Synopsys, Inc. (NASDAQ:SNPS)

Empowered Funds LLC raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 16.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,468 shares of the semiconductor company’s stock after acquiring an additional 1,214 shares during the quarter. Empowered Funds LLC’s holdings in Synopsys were worth $4,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Kingsview Wealth Management LLC boosted its stake in shares of Synopsys by 18.5% during the 4th quarter. Kingsview Wealth Management LLC now owns 563 shares of the semiconductor company’s stock worth $273,000 after acquiring an additional 88 shares during the last quarter. Robocap Asset Management Ltd boosted its stake in shares of Synopsys by 25.3% during the 4th quarter. Robocap Asset Management Ltd now owns 19,039 shares of the semiconductor company’s stock worth $9,241,000 after acquiring an additional 3,849 shares during the last quarter. Conning Inc. lifted its stake in shares of Synopsys by 5.0% during the 4th quarter. Conning Inc. now owns 816 shares of the semiconductor company’s stock valued at $396,000 after buying an additional 39 shares in the last quarter. EULAV Asset Management lifted its stake in shares of Synopsys by 9.0% during the 4th quarter. EULAV Asset Management now owns 48,604 shares of the semiconductor company’s stock valued at $23,590,000 after buying an additional 3,999 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of Synopsys during the 4th quarter valued at $70,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction dated 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 in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $509.71 on Thursday. The company has a market cap of $78.79 billion, a P/E ratio of 35.10, a P/E/G ratio of 3.49 and a beta of 1.12. The firm’s fifty day moving average is $511.98 and its two-hundred day moving average is $518.22. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SNPS. Robert W. Baird lowered their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price 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 target price on the stock. Rosenblatt Securities restated a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Wednesday, December 4th. Finally, Loop Capital initiated coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. One equities research 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $641.82.

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.