Bank of Montreal Can Has $119.17 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Bank of Montreal Can grew its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 245,523 shares of the semiconductor company's stock after purchasing an additional 14,540 shares during the quarter. Bank of Montreal Can owned 0.16% of Synopsys worth $119,167,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bell Asset Management Ltd purchased a new stake in Synopsys during the 4th quarter worth about $4,750,000. Polymer Capital Management US LLC acquired a new stake in Synopsys in the fourth quarter valued at approximately $4,623,000. Himension Capital Singapore PTE. LTD. lifted its stake in Synopsys by 50.7% in the fourth quarter. Himension Capital Singapore PTE. LTD. now owns 27,909 shares of the semiconductor company's stock worth $13,546,000 after acquiring an additional 9,394 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co grew its holdings in Synopsys by 42.4% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 53,746 shares of the semiconductor company's stock worth $26,086,000 after acquiring an additional 16,000 shares in the last quarter. Finally, Aviva PLC increased its position in shares of Synopsys by 6.5% in the 4th quarter. Aviva PLC now owns 92,509 shares of the semiconductor company's stock valued at $44,900,000 after purchasing an additional 5,663 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Activity at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of the stock in a transaction on Thursday, March 6th. The stock was 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 owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock worth $22,794,835 in the last three months. 0.62% of the stock is owned by company insiders.

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Analysts Set New Price Targets

A number of research firms have recently commented on SNPS. Wells Fargo & Company dropped their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. Morgan Stanley lowered their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Piper Sandler decreased their price objective on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Rosenblatt Securities reissued a "buy" rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Finally, Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They set a "buy" rating and a $600.00 price target on the stock. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $638.58.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded up $14.32 during midday trading on Friday, hitting $421.21. The company's stock had a trading volume of 1,745,597 shares, compared to its average volume of 1,091,393. The firm's fifty day moving average price is $457.51 and its 200-day moving average price is $498.01. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The firm has a market cap of $65.13 billion, a P/E ratio of 29.01, a P/E/G ratio of 3.23 and a beta of 1.23.

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.