Dana Investment Advisors Inc. Purchases 124 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Dana Investment Advisors Inc. lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 0.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,716 shares of the semiconductor company’s stock after purchasing an additional 124 shares during the period. Dana Investment Advisors Inc.’s holdings in Synopsys were worth $7,143,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Parnassus Investments LLC purchased a new stake in Synopsys during the third quarter valued at approximately $633,469,000. Edgewood Management LLC grew its position in shares of Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after acquiring an additional 487,025 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Synopsys by 71,578.5% in the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock worth $187,517,000 after purchasing an additional 385,808 shares in the last quarter. Impax Asset Management Group plc raised its holdings in Synopsys by 120.2% in the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after purchasing an additional 267,836 shares during the period. Finally, Wellington Management Group LLP lifted its position in Synopsys by 32.5% during the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after purchasing an additional 257,526 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’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 transaction, the chief executive officer now owns 70,922 shares in the company, valued at $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. 0.62% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Piper Sandler decreased their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Robert W. Baird reduced their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Wells Fargo & Company reduced their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Finally, Morgan Stanley decreased their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $447.96 on Thursday. The company has a market cap of $69.26 billion, a P/E ratio of 30.85, a P/E/G ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a 52-week low of $429.77 and a 52-week high of $624.80. The firm’s fifty day moving average is $503.01 and its two-hundred day moving average is $513.56.

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.