Trexquant Investment LP bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,657 shares of the semiconductor company's stock, valued at approximately $17,792,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new stake in shares of Synopsys in the 4th quarter valued at approximately $27,000. Whipplewood Advisors LLC acquired a new position in shares of Synopsys during the fourth quarter worth $33,000. Sierra Ocean LLC acquired a new position in shares of Synopsys during the fourth quarter worth $39,000. Hazlett Burt & Watson Inc. raised its stake in Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after buying an additional 20 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Synopsys during the 4th quarter worth about $51,000. Institutional investors and hedge funds own 85.47% of the company's stock.
Synopsys Trading Down 4.7 %
Shares of SNPS traded down $20.79 during mid-day trading on Thursday, hitting $417.76. 2,132,691 shares of the company's stock were exchanged, compared to its average volume of 1,058,008. The firm has a market capitalization of $64.59 billion, a P/E ratio of 28.77, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a fifty-two week low of $403.97 and a fifty-two week high of $624.80. The business's 50 day moving average is $476.99 and its two-hundred day moving average is $503.85.
Wall Street Analyst Weigh In
A number of research firms have recently commented on SNPS. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Morgan Stanley reduced their price objective on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Piper Sandler dropped their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Finally, Robert W. Baird reduced their price target on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $638.58.
View Our Latest Stock Analysis on SNPS
Insiders Place Their Bets
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 shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm's 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 sale, the executive now owns 1,460 shares of the company's stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is owned by company insiders.
About Synopsys
(
Free Report)
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.
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