Geode Capital Management LLC Has $1.63 Billion Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Geode Capital Management LLC lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,357,165 shares of the semiconductor company's stock after acquiring an additional 75,298 shares during the period. Geode Capital Management LLC owned approximately 2.17% of Synopsys worth $1,625,230,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in Synopsys during the fourth quarter worth $583,608,000. Raymond James Financial Inc. bought a new stake in shares of Synopsys during the 4th quarter worth $199,065,000. Proficio Capital Partners LLC boosted its stake in Synopsys by 71,578.5% in the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company's stock valued at $187,517,000 after buying an additional 385,808 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of 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 purchasing an additional 257,526 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in shares of Synopsys during the fourth quarter worth $104,741,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Buying and Selling

In other news, insider Geus Aart De sold 15,705 shares of the firm's 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 sale, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock valued at $22,794,835 over the last ninety days. 0.62% of the stock is owned by corporate insiders.

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Synopsys Stock Performance

Shares of SNPS stock traded down $29.63 during trading hours on Friday, hitting $388.13. 2,513,019 shares of the company were exchanged, compared to its average volume of 1,063,784. The company has a 50 day simple moving average of $476.99 and a two-hundred day simple moving average of $503.85. The firm has a market cap of $60.01 billion, a P/E ratio of 26.73, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a fifty-two week low of $384.90 and a fifty-two week high of $624.80.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Robert W. Baird reduced their price target on Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research report on Thursday, December 5th. Piper Sandler decreased their price target on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective on the stock. Finally, Morgan Stanley decreased their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $638.58.

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.