DnB Asset Management AS Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

DnB Asset Management AS grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 47,127 shares of the semiconductor company's stock after acquiring an additional 4,003 shares during the quarter. DnB Asset Management AS's holdings in Synopsys were worth $22,874,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNPS. Caprock Group LLC raised its position in Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company's stock valued at $1,803,000 after purchasing an additional 20 shares during the period. Compagnie Lombard Odier SCmA raised its holdings in Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock valued at $898,000 after buying an additional 20 shares during the period. Edge Capital Group LLC lifted its position in Synopsys by 1.2% in the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock worth $791,000 after buying an additional 20 shares during the last quarter. Barden Capital Management Inc. boosted its stake in Synopsys by 1.1% during the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock worth $889,000 after buying an additional 20 shares during the period. Finally, Resurgent Financial Advisors LLC increased its position in Synopsys by 2.8% during the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company's stock valued at $410,000 after acquiring an additional 22 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Synopsys news, 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 transaction, the insider now owns 116,671 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the 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 sale, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,909 shares of company stock worth $22,794,835. Corporate insiders own 0.62% of the company's stock.

Synopsys Stock Performance

Synopsys stock traded up $5.94 during midday trading on Wednesday, hitting $441.88. 426,361 shares of the company's stock were exchanged, compared to its average volume of 1,048,659. Synopsys, Inc. has a 12 month low of $423.08 and a 12 month high of $624.80. The company has a market cap of $68.32 billion, a PE ratio of 30.43, a P/E/G ratio of 3.23 and a beta of 1.16. The firm has a 50-day moving average of $481.79 and a two-hundred day moving average of $504.91.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SNPS shares. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Robert W. Baird dropped their target price on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a research report on Thursday, December 5th. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 price target on the stock. Wells Fargo & Company dropped their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. 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 equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $638.58.

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.