1,273 Shares in Synopsys, Inc. (NASDAQ:SNPS) Purchased by Algebris UK Ltd

Algebris UK Ltd bought a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,273 shares of the semiconductor company's stock, valued at approximately $597,000.

Several other institutional investors have also added to or reduced their stakes in the business. Kieckhefer Group LLC acquired a new stake in Synopsys in the fourth quarter worth about $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Synopsys during the fourth quarter worth about $33,000. Sierra Ocean LLC acquired a new stake in shares of Synopsys during the fourth quarter worth about $39,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Synopsys during the fourth quarter worth about $51,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Synopsys by 109.3% during the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock worth $55,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by corporate insiders.

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Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNPS. Rosenblatt Securities reaffirmed a "buy" rating and set a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 target price for the company. Piper Sandler decreased their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Finally, Robert W. Baird decreased their price target on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Synopsys currently has a consensus rating of "Moderate Buy" and a consensus target price of $638.58.

Synopsys Stock Performance

Shares of SNPS traded down $1.39 during trading hours on Friday, hitting $448.60. 3,362,089 shares of the stock were exchanged, compared to its average volume of 1,020,823. Synopsys, Inc. has a 12-month low of $425.73 and a 12-month high of $624.80. The company has a market cap of $69.36 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The stock's 50-day moving average price is $491.19 and its two-hundred day moving average price is $506.44.

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.