Avestar Capital LLC Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Avestar Capital LLC boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 24.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,924 shares of the semiconductor company’s stock after purchasing an additional 372 shares during the quarter. Avestar Capital LLC’s holdings in Synopsys were worth $934,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SNPS. Kieckhefer Group LLC bought a new stake in shares of Synopsys in the 4th quarter worth $27,000. Tsfg LLC increased its holdings in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position 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 buying an additional 20 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in Synopsys during the 3rd quarter valued at about $44,000. Finally, nVerses Capital LLC bought a new position in Synopsys during the 3rd quarter valued at about $51,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. Loop Capital assumed coverage on shares of Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Piper Sandler cut their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Finally, Robert W. Baird reduced their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

Synopsys Stock Performance

Shares of Synopsys stock opened at $528.29 on Friday. The stock has a market cap of $81.66 billion, a P/E ratio of 36.38, a P/E/G ratio of 3.49 and a beta of 1.12. The stock’s fifty day moving average is $510.41 and its 200 day moving average is $518.16. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $738,774.60. This 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 through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.