Artemis Investment Management LLP Grows Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Artemis Investment Management LLP increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,878 shares of the semiconductor company's stock after purchasing an additional 1,081 shares during the quarter. Artemis Investment Management LLP's holdings in Synopsys were worth $12,075,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNPS. State Street Corp increased its position in Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company's stock valued at $3,518,637,000 after purchasing an additional 119,057 shares during the period. Geode Capital Management LLC raised its stake in Synopsys by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company's stock worth $1,656,005,000 after buying an additional 61,799 shares during the last quarter. Edgewood Management LLC lifted its holdings in Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company's stock valued at $1,554,540,000 after buying an additional 487,025 shares during the period. Van ECK Associates Corp boosted its position in Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company's stock valued at $791,923,000 after acquiring an additional 335,993 shares during the last quarter. Finally, Parnassus Investments LLC acquired a new stake in Synopsys in the third quarter worth $633,469,000. Institutional investors own 85.47% of the company's stock.

Synopsys Price Performance

NASDAQ SNPS traded up $10.89 during trading on Monday, reaching $526.70. The company's stock had a trading volume of 1,240,502 shares, compared to its average volume of 870,192. The stock has a market capitalization of $81.42 billion, a PE ratio of 36.27, a P/E/G ratio of 3.22 and a beta of 1.12. The firm has a fifty day moving average of $519.43 and a 200 day moving average of $525.54. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38.

Analyst Ratings Changes

SNPS has been the subject of several research analyst reports. Wells Fargo & Company decreased their target price on Synopsys from $570.00 to $540.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Robert W. Baird reduced their target price on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a research report on Thursday, December 5th. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 price target on the stock. Rosenblatt Securities restated a "buy" rating and issued a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. One 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $641.82.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm's stock in a transaction dated 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 transaction, the executive now directly owns 1,460 shares of the company's stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.66% 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.