CIBC Asset Management Inc Raises Stake in Synopsys, Inc. (NASDAQ:SNPS)

CIBC Asset Management Inc increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 74,789 shares of the semiconductor company’s stock after buying an additional 5,253 shares during the quarter. CIBC Asset Management Inc’s holdings in Synopsys were worth $36,300,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC raised its stake in shares of Synopsys by 21.1% during the 4th quarter. Catalyst Capital Advisors LLC now owns 1,687 shares of the semiconductor company’s stock valued at $819,000 after purchasing an additional 294 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Synopsys by 4.6% during the 4th quarter. Principal Financial Group Inc. now owns 259,257 shares of the semiconductor company’s stock worth $125,833,000 after acquiring an additional 11,291 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Synopsys during the 4th quarter valued at about $39,000. Meridiem Investment Management Ltd. lifted its holdings in shares of Synopsys by 13.1% in the 4th quarter. Meridiem Investment Management Ltd. now owns 557,174 shares of the semiconductor company’s stock worth $270,322,000 after acquiring an additional 64,322 shares during the last quarter. Finally, WD Rutherford LLC increased its holdings in shares of Synopsys by 6.0% in the fourth quarter. WD Rutherford LLC now owns 1,745 shares of the semiconductor company’s stock worth $847,000 after buying an additional 98 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s 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 sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by company insiders.

Synopsys Stock Down 1.1 %

NASDAQ SNPS opened at $522.53 on Monday. The stock’s 50-day moving average price is $510.78 and its 200-day moving average price is $517.72. The company has a market capitalization of $80.77 billion, a P/E ratio of 35.99, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SNPS shares. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Wednesday, December 4th. Robert W. Baird lowered their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Mizuho started coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Finally, Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average target price of $641.82.

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.