Vident Advisory LLC Purchases 12,004 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Vident Advisory LLC increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 56.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,194 shares of the semiconductor company’s stock after acquiring an additional 12,004 shares during the period. Vident Advisory LLC’s holdings in Synopsys were worth $16,111,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNPS. Merit Financial Group LLC grew its position in Synopsys by 2,308.7% during the 4th quarter. Merit Financial Group LLC now owns 15,006 shares of the semiconductor company’s stock worth $7,283,000 after acquiring an additional 14,383 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of Synopsys by 2.0% in the fourth quarter. HB Wealth Management LLC now owns 3,172 shares of the semiconductor company’s stock valued at $1,540,000 after buying an additional 63 shares during the period. Smith Salley Wealth Management increased its stake in shares of Synopsys by 8.1% in the fourth quarter. Smith Salley Wealth Management now owns 2,569 shares of the semiconductor company’s stock valued at $1,247,000 after buying an additional 193 shares during the period. Moss Adams Wealth Advisors LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at about $246,000. Finally, Bowman & Co S.C. acquired a new stake in shares of Synopsys in the fourth quarter valued at about $334,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

SNPS stock opened at $514.43 on Monday. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80. The business’s 50 day moving average price is $444.44 and its two-hundred day moving average price is $488.96. The company has a market capitalization of $79.54 billion, a price-to-earnings ratio of 35.43, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. The trade was a 13.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86% 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Mizuho decreased their price target on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Bank of America decreased their price target on Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Morgan Stanley decreased their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Finally, KeyCorp cut their target price on Synopsys from $690.00 to $555.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus price target of $613.43.

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.