Allred Capital Management LLC Takes $218,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Allred Capital Management LLC purchased a new position in Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, HoldingsChannel reports. The firm purchased 449 shares of the semiconductor company’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SNPS. Vanguard Group Inc. raised its holdings in Synopsys by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after buying an additional 120,575 shares during the period. Geode Capital Management LLC boosted its stake in Synopsys by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock worth $1,625,230,000 after buying an additional 75,298 shares during the period. Pictet Asset Management Holding SA increased its position in Synopsys by 3.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,758,759 shares of the semiconductor company’s stock valued at $853,631,000 after acquiring an additional 60,121 shares during the last quarter. Invesco Ltd. raised its stake in shares of Synopsys by 5.2% in the fourth quarter. Invesco Ltd. now owns 1,381,496 shares of the semiconductor company’s stock valued at $670,523,000 after acquiring an additional 68,766 shares during the period. Finally, Norges Bank bought a new stake in shares of Synopsys in the 4th quarter worth about $583,608,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.

Synopsys Price Performance

NASDAQ:SNPS opened at $413.32 on Friday. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The company has a 50-day moving average of $448.67 and a 200 day moving average of $495.67. The firm has a market cap of $63.91 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23.

Analysts Set New Price Targets

Several equities analysts recently commented on SNPS shares. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Piper Sandler decreased their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Finally, KeyCorp reduced their target price on Synopsys from $690.00 to $555.00 and set an “overweight” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and an average price target of $618.31.

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.