BI Asset Management Fondsmaeglerselskab A S Buys 34,300 Shares of Synopsys, Inc. (NASDAQ:SNPS)

BI Asset Management Fondsmaeglerselskab A S boosted its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 72.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,869 shares of the semiconductor company's stock after buying an additional 34,300 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.05% of Synopsys worth $39,736,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNPS. Kieckhefer Group LLC acquired a new stake in Synopsys in the fourth quarter worth approximately $27,000. Whipplewood Advisors LLC bought a new stake in shares of Synopsys in the 4th quarter worth $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Synopsys in the fourth quarter valued at $34,000. Sierra Ocean LLC acquired a new position in Synopsys during the fourth quarter worth about $39,000. Finally, Hazlett Burt & Watson Inc. raised its position in Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 20 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded up $17.22 during mid-day trading on Thursday, reaching $439.45. The company had a trading volume of 532,039 shares, compared to its average volume of 1,086,301. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80. The stock's 50 day moving average is $439.90 and its 200-day moving average is $493.36. The stock has a market capitalization of $67.95 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction that occurred 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 directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SNPS shares. Morgan Stanley dropped their target price on shares of 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 Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 target price on the stock. KeyCorp decreased their price target on Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Finally, Mizuho reduced their price target on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $618.31.

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.