80 Shares in Synopsys, Inc. (NASDAQ:SNPS) Bought by Sierra Ocean LLC

Sierra Ocean LLC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 80 shares of the semiconductor company’s stock, valued at approximately $39,000.

Other large investors have also recently bought and sold shares of the company. Davidson Capital Management Inc. raised its position in Synopsys by 33,828.6% in the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after purchasing an additional 4,736 shares during the last quarter. Peloton Wealth Strategists raised its position in Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after purchasing an additional 1,984 shares during the last quarter. Swiss National Bank raised its position in Synopsys by 0.7% in the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after purchasing an additional 3,200 shares during the last quarter. Parnassus Investments LLC bought a new position in Synopsys in the third quarter valued at about $633,469,000. Finally, Harvest Portfolios Group Inc. raised its position in Synopsys by 3.7% in the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after purchasing an additional 1,496 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Mizuho assumed coverage on Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, December 5th. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Wednesday, December 4th. Piper Sandler decreased their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Finally, Wells Fargo & Company decreased their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $641.82.

Synopsys Price Performance

NASDAQ SNPS opened at $522.53 on Tuesday. The business has a 50 day simple moving average of $510.78 and a 200 day simple moving average of $517.72. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The stock has a market capitalization of $80.77 billion, a P/E ratio of 35.99, a P/E/G ratio of 3.49 and a beta of 1.12.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’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 transaction of $10,544,236.38. Following the completion of the sale, the executive now 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 document filed with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

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.