CANADA LIFE ASSURANCE Co Has $83.87 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

CANADA LIFE ASSURANCE Co decreased its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 11.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 173,028 shares of the semiconductor company's stock after selling 22,829 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.11% of Synopsys worth $83,867,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Synopsys during the 4th quarter valued at $583,608,000. Raymond James Financial Inc. acquired a new stake in Synopsys in the 4th quarter worth approximately $199,065,000. Proficio Capital Partners LLC raised its position in shares of Synopsys by 71,578.5% in the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company's stock valued at $187,517,000 after purchasing an additional 385,808 shares during the period. Alecta Tjanstepension Omsesidigt acquired a new position in Synopsys in the 4th quarter valued at $104,741,000. Finally, Marshall Wace LLP lifted its position in Synopsys by 117.7% during the 4th quarter. Marshall Wace LLP now owns 390,000 shares of the semiconductor company's stock worth $189,290,000 after acquiring an additional 210,888 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Trading Up 2.4 %

NASDAQ SNPS traded up $10.09 during trading on Wednesday, reaching $423.49. The company's stock had a trading volume of 379,207 shares, compared to its average volume of 1,087,576. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80. The firm has a 50 day moving average price of $441.91 and a 200 day moving average price of $493.85. The firm has a market capitalization of $65.48 billion, a price-to-earnings ratio of 29.17, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23.

Insider Buying and Selling

In related news, insider Geus Aart De sold 15,705 shares of Synopsys 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 transaction, the insider now directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Piper Sandler lowered their price objective on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company reduced their target price on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. Morgan Stanley dropped their price objective 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. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Synopsys has an average rating of "Moderate Buy" and a consensus target price 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.