Capital Research Global Investors Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Capital Research Global Investors purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 494,198 shares of the semiconductor company's stock, valued at approximately $239,864,000. Capital Research Global Investors owned 0.32% of Synopsys as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Synopsys by 44.8% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 727 shares of the semiconductor company's stock valued at $368,000 after purchasing an additional 225 shares during the last quarter. World Investment Advisors LLC bought a new position in Synopsys in the third quarter valued at approximately $253,000. Wilmington Savings Fund Society FSB acquired a new stake in Synopsys during the 3rd quarter worth $865,000. Blankinship & Foster LLC acquired a new position in shares of Synopsys in the 3rd quarter valued at $2,772,000. Finally, Synovus Financial Corp increased its holdings in Synopsys by 199.2% in the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock valued at $7,627,000 after purchasing an additional 10,028 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Mizuho cut their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Piper Sandler reduced their price target 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. Bank of America decreased their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 price objective on the stock. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Synopsys has a consensus rating of "Moderate Buy" and a consensus target price of $618.31.

Synopsys Stock Performance

Synopsys stock traded up $16.67 during mid-day trading on Thursday, reaching $438.90. The company's stock had a trading volume of 1,092,151 shares, compared to its average volume of 1,088,471. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80. The business's 50 day simple moving average is $439.90 and its 200 day simple moving average is $493.36. The company has a market capitalization of $67.86 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the sale, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction that occurred 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 completion of the sale, 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 disclosure for this sale can be found here. Company insiders own 0.62% 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.