AIA Group Ltd Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

AIA Group Ltd increased its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 15.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,186 shares of the semiconductor company's stock after purchasing an additional 1,737 shares during the period. AIA Group Ltd's holdings in Synopsys were worth $6,400,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Townsquare Capital LLC boosted its holdings in shares of Synopsys by 9.8% in the third quarter. Townsquare Capital LLC now owns 5,700 shares of the semiconductor company's stock valued at $2,886,000 after acquiring an additional 508 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in Synopsys in the 3rd quarter valued at $11,441,000. Captrust Financial Advisors boosted its stake in Synopsys by 8.1% during the 3rd quarter. Captrust Financial Advisors now owns 4,994 shares of the semiconductor company's stock worth $2,529,000 after purchasing an additional 374 shares during the period. Edgestream Partners L.P. purchased a new position in Synopsys during the 3rd quarter worth $4,417,000. Finally, Erste Asset Management GmbH acquired a new position in Synopsys in the third quarter valued at $31,766,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 of the company's stock, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock valued at $22,794,835 in the last quarter. 0.62% of the stock is currently owned by corporate insiders.

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Analysts Set New Price Targets

SNPS has been the topic of a number of research reports. Rosenblatt Securities reissued a "buy" rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Robert W. Baird dropped their target price on Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. Wells Fargo & Company cut their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Redburn Atlantic began coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective on the stock. Finally, Needham & Company LLC restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Synopsys presently has an average rating of "Moderate Buy" and a consensus target price of $638.58.

Synopsys Stock Performance

SNPS stock traded up $2.61 during trading on Wednesday, reaching $438.55. 1,109,689 shares of the company were exchanged, compared to its average volume of 1,051,287. The stock's 50 day moving average price is $481.79 and its 200 day moving average price is $504.91. Synopsys, Inc. has a 52-week low of $415.29 and a 52-week high of $624.80. The company has a market cap of $67.81 billion, a P/E ratio of 30.20, a PEG ratio of 3.23 and a beta of 1.16.

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.