Allianz SE Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Allianz SE bought 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 SEC. The fund bought 4,872 shares of the semiconductor company's stock, valued at approximately $2,371,000.

A number of other large investors also recently made changes to their positions in SNPS. Caprock Group LLC grew its position in Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company's stock valued at $1,803,000 after purchasing an additional 20 shares in the last quarter. Compagnie Lombard Odier SCmA grew its holdings in shares of Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock valued at $898,000 after acquiring an additional 20 shares in the last quarter. Edge Capital Group LLC increased its stake in shares of Synopsys by 1.2% in the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock worth $791,000 after acquiring an additional 20 shares during the last quarter. Barden Capital Management Inc. increased its stake in shares of Synopsys by 1.1% in the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock worth $889,000 after acquiring an additional 20 shares during the last quarter. Finally, Resurgent Financial Advisors LLC raised its holdings in shares of Synopsys by 2.8% during the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company's stock worth $410,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Remove Ads

Synopsys Stock Up 1.7 %

NASDAQ SNPS traded up $7.09 during trading on Tuesday, hitting $435.94. The company's stock had a trading volume of 985,635 shares, compared to its average volume of 1,049,297. Synopsys, Inc. has a 52 week low of $423.08 and a 52 week high of $624.80. The firm has a market cap of $67.41 billion, a P/E ratio of 30.02, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The firm has a 50 day moving average price of $483.67 and a 200 day moving average price of $505.29.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wells Fargo & Company dropped their target price on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Morgan Stanley dropped their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 target price for the company. Needham & Company LLC reissued a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Finally, Robert W. Baird cut their price target on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $638.58.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys 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 sale, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is owned by company insiders.

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.