Kornitzer Capital Management Inc. KS Has $8.02 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Kornitzer Capital Management Inc. KS trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,526 shares of the semiconductor company’s stock after selling 650 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Synopsys were worth $8,021,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SNPS. nVerses Capital LLC acquired a new position in shares of Synopsys during the third quarter worth approximately $51,000. Trilogy Capital Inc. raised its position in Synopsys by 58.1% in the 3rd quarter. Trilogy Capital Inc. now owns 3,001 shares of the semiconductor company’s stock valued at $1,520,000 after buying an additional 1,103 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in Synopsys in the 3rd quarter valued at $58,000. Foundations Investment Advisors LLC raised its position in Synopsys by 2.5% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,368 shares of the semiconductor company’s stock valued at $693,000 after buying an additional 33 shares during the last quarter. Finally, Graybill Wealth Management LTD. raised its position in Synopsys by 2.3% in the 3rd quarter. Graybill Wealth Management LTD. now owns 14,251 shares of the semiconductor company’s stock valued at $7,217,000 after buying an additional 320 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Performance

SNPS stock opened at $525.00 on Wednesday. The company has a market capitalization of $81.15 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 3.42 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The stock has a fifty day moving average of $511.06 and a 200-day moving average of $517.59.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Piper Sandler lowered their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Redburn Atlantic assumed coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Robert W. Baird lowered their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Mizuho began coverage on Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target for the company. Finally, Wells Fargo & Company decreased their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the 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 completion of the transaction, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by corporate 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.