ABC Arbitrage SA Buys Shares of 7,680 Synopsys, Inc. (NASDAQ:SNPS)

ABC Arbitrage SA acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,680 shares of the semiconductor company's stock, valued at approximately $3,728,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. Kieckhefer Group LLC purchased a new position in shares of Synopsys during the 4th quarter valued at approximately $27,000. Hazlett Burt & Watson Inc. raised its position in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 20 shares during the period. Princeton Global Asset Management LLC acquired a new position in Synopsys during the third quarter worth $44,000. nVerses Capital LLC purchased a new position in Synopsys during the third quarter valued at $51,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Synopsys in the fourth quarter valued at about $51,000. Hedge funds and other institutional investors own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Needham & Company LLC restated a "buy" rating and set a $640.00 price target on shares of Synopsys in a research report on Thursday, December 5th. Loop Capital assumed coverage on Synopsys in a report on Monday, November 11th. They set a "buy" rating and a $675.00 target price for the company. Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 price target on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. Finally, Robert W. Baird decreased their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Synopsys presently has an average rating of "Moderate Buy" and a consensus target price of $641.82.

Synopsys Stock Down 4.6 %

Shares of SNPS traded down $24.02 during midday trading on Wednesday, reaching $500.98. The company had a trading volume of 2,417,718 shares, compared to its average volume of 1,050,863. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The firm has a 50 day simple moving average of $511.45 and a 200-day simple moving average of $517.72. The stock has a market cap of $77.44 billion, a PE ratio of 34.50, a price-to-earnings-growth ratio of 3.42 and a beta of 1.12.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction dated 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 transaction, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.66% of the stock is currently owned by 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.