HighTower Advisors LLC Has $5.22 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

HighTower Advisors LLC grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 15.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,754 shares of the semiconductor company’s stock after purchasing an additional 1,450 shares during the period. HighTower Advisors LLC’s holdings in Synopsys were worth $5,220,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Edgewood Management LLC lifted its stake in Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Synopsys in the 4th quarter valued at about $199,065,000. Proficio Capital Partners LLC lifted its position in shares of Synopsys by 71,578.5% in the fourth 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. Wellington Management Group LLP boosted its holdings in shares of Synopsys by 32.5% during the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after purchasing an additional 257,526 shares during the period. Finally, Alecta Tjanstepension Omsesidigt purchased a new position in Synopsys during the fourth quarter valued at approximately $104,741,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their target price 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. Needham & Company LLC restated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Robert W. Baird cut their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. 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, Synopsys presently has an average rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Trading Up 0.5 %

Shares of SNPS stock opened at $450.28 on Thursday. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The firm’s fifty day simple moving average is $493.11 and its 200 day simple moving average is $506.95. The firm has a market capitalization of $69.62 billion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Insider Transactions at Synopsys

In related news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction 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 sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is currently owned by company insiders.

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.