Bancreek Capital Management LP Buys Shares of 7,885 Synopsys, Inc. (NASDAQ:SNPS)

Bancreek Capital Management LP acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,885 shares of the semiconductor company's stock, valued at approximately $3,827,000. Synopsys accounts for 3.7% of Bancreek Capital Management LP's investment portfolio, making the stock its 15th largest position.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SNPS shares. Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Wells Fargo & Company cut their target price on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Rosenblatt Securities restated a "buy" rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $638.58.

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Insider Activity

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 stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the firm's 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 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 position. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock valued at $22,794,835 over the last 90 days. 0.62% of the stock is owned by company insiders.

Synopsys Stock Performance

SNPS traded down $7.33 during mid-day trading on Wednesday, reaching $449.90. The stock had a trading volume of 749,020 shares, compared to its average volume of 1,016,860. The firm's fifty day simple moving average is $489.94 and its two-hundred day simple moving average is $506.26. The stock has a market capitalization of $69.56 billion, a P/E ratio of 30.98, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80.

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.