Van ECK Associates Corp Has $751.96 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Van ECK Associates Corp decreased its position in Synopsys, Inc. (NASDAQ:SNPS) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,549,279 shares of the semiconductor company’s stock after selling 55,722 shares during the period. Synopsys accounts for 1.0% of Van ECK Associates Corp’s portfolio, making the stock its 23rd largest position. Van ECK Associates Corp owned 1.00% of Synopsys worth $751,958,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PFG Advisors raised its stake in shares of Synopsys by 4.7% during the third quarter. PFG Advisors now owns 4,986 shares of the semiconductor company’s stock worth $2,525,000 after buying an additional 224 shares during the last quarter. Tsfg LLC raised its position in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 24 shares during the last quarter. Sumitomo Life Insurance Co. lifted its stake in shares of Synopsys by 1.6% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 8,858 shares of the semiconductor company’s stock valued at $4,486,000 after purchasing an additional 137 shares during the period. Vontobel Holding Ltd. boosted its position in shares of Synopsys by 4.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock worth $488,796,000 after purchasing an additional 43,228 shares during the last quarter. Finally, Wolff Wiese Magana LLC grew its stake in shares of Synopsys by 2.3% during the third quarter. Wolff Wiese Magana LLC now owns 1,107 shares of the semiconductor company’s stock worth $561,000 after purchasing an additional 25 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

Synopsys Trading Down 3.7 %

SNPS opened at $509.71 on Thursday. The stock has a market capitalization 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. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The firm’s fifty day simple moving average is $511.98 and its 200 day simple moving average is $518.22.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SNPS. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Redburn Atlantic began coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Wells Fargo & Company cut their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

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.