Proficio Capital Partners LLC Boosts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Proficio Capital Partners LLC lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 71,578.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 386,347 shares of the semiconductor company’s stock after purchasing an additional 385,808 shares during the quarter. Proficio Capital Partners LLC’s holdings in Synopsys were worth $187,517,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mn Services Vermogensbeheer B.V. lifted its position in Synopsys by 2.0% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 59,800 shares of the semiconductor company’s stock worth $29,025,000 after buying an additional 1,200 shares during the last quarter. New York Life Investment Management LLC lifted its position in Synopsys by 0.5% in the fourth quarter. New York Life Investment Management LLC now owns 22,902 shares of the semiconductor company’s stock worth $11,116,000 after buying an additional 125 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in Synopsys in the fourth quarter worth $33,000. Oregon Public Employees Retirement Fund lifted its position in Synopsys by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,169 shares of the semiconductor company’s stock worth $6,392,000 after buying an additional 49 shares during the last quarter. Finally, Impact Investors Inc bought a new stake in shares of Synopsys during the fourth quarter worth $395,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Robert W. Baird decreased their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Wells Fargo & Company decreased their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Piper Sandler decreased their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and an average target price of $639.58.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Synopsys Price Performance

SNPS opened at $470.46 on Thursday. Synopsys, Inc. has a 1 year low of $457.00 and a 1 year high of $624.80. The firm has a market capitalization of $72.72 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. The business’s 50-day moving average is $507.61 and its two-hundred day moving average is $516.56.

Synopsys Company 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.