Canada Pension Plan Investment Board Boosts Position in Synopsys, Inc. (NASDAQ:SNPS)

Canada Pension Plan Investment Board lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 154.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,909 shares of the semiconductor company's stock after purchasing an additional 27,225 shares during the quarter. Canada Pension Plan Investment Board's holdings in Synopsys were worth $21,797,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Advisors Capital Management LLC raised its holdings in Synopsys by 2.3% during the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock worth $408,000 after buying an additional 19 shares during the last quarter. Caprock Group LLC increased its position in shares of Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company's stock worth $1,803,000 after acquiring an additional 20 shares in the last quarter. Compagnie Lombard Odier SCmA raised its holdings in shares of Synopsys by 1.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock worth $898,000 after acquiring an additional 20 shares during the last quarter. Edge Capital Group LLC lifted its position in Synopsys by 1.2% in the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock valued at $791,000 after acquiring an additional 20 shares in the last quarter. Finally, Barden Capital Management Inc. boosted its stake in Synopsys by 1.1% during the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock valued at $889,000 after purchasing an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SNPS shares. Needham & Company LLC restated a "buy" rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Rosenblatt Securities reaffirmed a "buy" rating and set a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Bank of America reduced their target price on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. KeyCorp dropped their price target on shares of Synopsys from $690.00 to $555.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, Piper Sandler reduced their price objective on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $618.31.

Insider Activity

In other news, insider Geus Aart De sold 15,705 shares of the business's 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 sale, the insider now owns 116,671 shares of the company's stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction that occurred on 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 directly owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

Synopsys Stock Up 3.9 %

Synopsys stock traded up $16.67 during trading on Thursday, hitting $438.90. The stock had a trading volume of 1,092,054 shares, compared to its average volume of 1,088,470. The stock's 50 day moving average is $439.90 and its two-hundred day moving average is $493.36. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The stock has a market cap of $67.86 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23.

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.