Dynamic Technology Lab Private Ltd Buys Shares of 2,533 Synopsys, Inc. (NASDAQ:SNPS)

Dynamic Technology Lab Private Ltd acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,533 shares of the semiconductor company's stock, valued at approximately $1,229,000.

Several other institutional investors have also added to or reduced their stakes in SNPS. Benjamin Edwards Inc. lifted its stake in Synopsys by 458.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 598 shares of the semiconductor company's stock valued at $303,000 after purchasing an additional 491 shares during the last quarter. IHT Wealth Management LLC lifted its stake in shares of Synopsys by 39.1% in the 3rd quarter. IHT Wealth Management LLC now owns 858 shares of the semiconductor company's stock valued at $433,000 after acquiring an additional 241 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Synopsys by 32.5% during 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. EP Wealth Advisors LLC grew its position in Synopsys by 36.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 2,041 shares of the semiconductor company's stock worth $1,033,000 after acquiring an additional 547 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its position in Synopsys by 5.5% during the 3rd quarter. iA Global Asset Management Inc. now owns 36,709 shares of the semiconductor company's stock worth $18,589,000 after buying an additional 1,914 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at Synopsys

In related news, 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 value 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 $32,890,077.50. This represents a 13.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now 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. Over the last three months, insiders have sold 47,909 shares of company stock worth $22,794,835. Corporate insiders own 0.62% of the company's stock.

Analyst Ratings Changes

SNPS has been the topic of a number of analyst reports. Piper Sandler reduced their price target on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company reduced their target price on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 price target for the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reissued a "buy" rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $638.58.

Synopsys Trading Up 1.7 %

SNPS stock traded up $6.97 on Friday, hitting $413.86. The company had a trading volume of 654,141 shares, compared to its average volume of 1,085,538. The stock has a market cap of $63.99 billion, a price-to-earnings ratio of 28.51, a P/E/G ratio of 3.23 and a beta of 1.23. The stock's 50-day simple moving average is $459.56 and its 200 day simple moving average is $498.75. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80.

About Synopsys

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.