CenterBook Partners LP Purchases Shares of 4,878 Synopsys, Inc. (NASDAQ:SNPS)

CenterBook Partners LP acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,878 shares of the semiconductor company's stock, valued at approximately $2,368,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nordea Investment Management AB boosted its stake in shares of Synopsys by 15.9% during the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company's stock worth $509,261,000 after acquiring an additional 143,284 shares in the last quarter. James Hambro & Partners LLP grew its stake in Synopsys by 30.9% during the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company's stock worth $97,725,000 after purchasing an additional 47,527 shares in the last quarter. Synovus Financial Corp raised its holdings in shares of Synopsys by 199.2% in the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock valued at $7,627,000 after purchasing an additional 10,028 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Synopsys by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company's stock worth $1,656,005,000 after acquiring an additional 61,799 shares in the last quarter. Finally, Janney Capital Management LLC acquired a new position in Synopsys in the fourth quarter valued at $6,082,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Up 0.5 %

Synopsys stock traded up $2.15 during trading on Tuesday, hitting $424.13. The stock had a trading volume of 305,892 shares, compared to its average volume of 1,088,470. The stock has a market cap of $65.58 billion, a price-to-earnings ratio of 29.21, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. The stock's 50 day moving average is $455.38 and its two-hundred day moving average is $497.37. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80.

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Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Piper Sandler lowered their price target on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. KeyCorp reduced their target price on Synopsys from $690.00 to $555.00 and set an "overweight" rating on the stock in a report on Tuesday. Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Finally, Needham & Company LLC reissued a "buy" rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and a consensus price target of $623.17.

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.