Champlain Investment Partners LLC Buys 29,600 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Champlain Investment Partners LLC increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 10.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 312,526 shares of the semiconductor company's stock after buying an additional 29,600 shares during the period. Champlain Investment Partners LLC owned about 0.20% of Synopsys worth $151,688,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Kieckhefer Group LLC purchased a new position in Synopsys in the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC bought a new position in shares of Synopsys during the 4th quarter worth $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Synopsys in the 4th quarter valued at about $34,000. Sierra Ocean LLC purchased a new stake in Synopsys during the fourth quarter valued at about $39,000. Finally, Hazlett Burt & Watson Inc. boosted its position in Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 20 shares during the period. Institutional investors own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Morgan Stanley dropped their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Wells Fargo & Company cut their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Rosenblatt Securities reiterated a "buy" rating and set a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Finally, KeyCorp decreased their price target on Synopsys from $690.00 to $555.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $618.31.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, 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 disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Synopsys Trading Up 3.1 %

Shares of SNPS traded up $12.36 during midday trading on Tuesday, reaching $414.72. The stock had a trading volume of 353,159 shares, compared to its average volume of 1,087,675. The company has a market capitalization of $64.12 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The company's 50-day moving average is $444.21 and its 200 day moving average is $494.42.

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.