American Century Companies Inc. Grows Stake in Synopsys, Inc. (NASDAQ:SNPS)

American Century Companies Inc. grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 38.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 571,474 shares of the semiconductor company's stock after purchasing an additional 159,344 shares during the quarter. American Century Companies Inc. owned about 0.37% of Synopsys worth $277,371,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Kieckhefer Group LLC bought a new position in Synopsys in the 4th quarter worth about $27,000. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys in the fourth quarter worth about $33,000. Sierra Ocean LLC bought a new position in shares of Synopsys in the fourth quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. purchased a new position in Synopsys during the fourth quarter valued at approximately $51,000. Finally, Versant Capital Management Inc increased its holdings in Synopsys by 109.3% during the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock worth $55,000 after acquiring an additional 59 shares during the period. 85.47% of the stock is owned by institutional investors.

Synopsys Price Performance

SNPS traded down $7.33 during midday trading on Wednesday, reaching $449.90. 749,020 shares of the company's stock traded hands, compared to its average volume of 1,016,833. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80. The firm has a fifty day moving average of $489.94 and a two-hundred day moving average of $506.26. The stock has a market capitalization of $69.56 billion, a price-to-earnings ratio of 30.98, a P/E/G ratio of 3.23 and a beta of 1.16.

Remove Ads

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SNPS. Morgan Stanley lowered their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Piper Sandler cut their price objective on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Rosenblatt Securities reissued a "buy" rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Finally, Wells Fargo & Company dropped their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $638.58.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company'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 owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the company's 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 transaction, the insider now directly owns 116,671 shares in the company, valued at $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. Insiders sold 47,909 shares of company stock valued at $22,794,835 over the last quarter. 0.62% of the stock is owned by company 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.