DnB Asset Management AS Has $22.87 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

DnB Asset Management AS grew its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Synopsys during the 4th quarter worth approximately $583,608,000. Raymond James Financial Inc. bought a new stake in shares of Synopsys during the fourth quarter worth $199,065,000. Proficio Capital Partners LLC raised its holdings in shares of Synopsys by 71,578.5% during the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company's stock worth $187,517,000 after acquiring an additional 385,808 shares during the period. Wellington Management Group LLP lifted its position in Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company's stock valued at $531,056,000 after acquiring an additional 257,526 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in Synopsys in the 4th quarter worth $104,741,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the firm'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 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 filing with the SEC, which can be accessed through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares of the company's stock, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,909 shares of company stock worth $22,794,835. Insiders own 0.62% of the company's stock.

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Analyst Ratings Changes

A number of analysts have recently commented on the company. Wells Fargo & Company cut their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. Rosenblatt Securities restated a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Piper Sandler decreased their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Morgan Stanley cut their price objective on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Finally, Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a "buy" rating and a $600.00 target price for the company. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $638.58.

Synopsys Trading Up 1.7 %

Shares of SNPS traded up $7.27 during midday trading on Tuesday, reaching $436.12. The stock had a trading volume of 799,257 shares, compared to its average volume of 1,049,289. The firm has a market cap of $67.43 billion, a PE ratio of 30.04, a P/E/G ratio of 3.23 and a beta of 1.16. The firm has a 50 day simple moving average of $483.67 and a 200-day simple moving average of $505.29. Synopsys, Inc. has a one year low of $423.08 and a one year high of $624.80.

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.