Parkside Financial Bank & Trust Grows Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Parkside Financial Bank & Trust grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,916 shares of the semiconductor company’s stock after purchasing an additional 29 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Synopsys were worth $930,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kieckhefer Group LLC purchased a new stake in shares of Synopsys during the 4th quarter valued at about $27,000. Whipplewood Advisors LLC purchased a new stake in Synopsys in the 4th quarter worth approximately $33,000. Hazlett Burt & Watson Inc. increased its holdings in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Synopsys in the 4th quarter worth approximately $39,000. Finally, Princeton Global Asset Management LLC purchased a new stake in Synopsys in the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the subject of several analyst reports. Loop Capital initiated coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Wells Fargo & Company reduced their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday. 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 objective on shares of Synopsys in a report on Thursday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Tuesday. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now directly owns 1,460 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink. 0.62% of the stock is currently owned by insiders.

Synopsys Stock Performance

SNPS stock opened at $454.71 on Friday. The firm has a fifty day moving average price of $506.84 and a 200 day moving average price of $516.13. Synopsys, Inc. has a fifty-two week low of $454.05 and a fifty-two week high of $624.80. The firm has a market cap of $70.29 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12.

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.