Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 90.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 229,134 shares of the semiconductor company's stock after purchasing an additional 108,716 shares during the period. Handelsbanken Fonder AB owned 0.15% of Synopsys worth $111,212,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Hazlett Burt & Watson Inc. lifted its holdings in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. Caprock Group LLC lifted its holdings in shares of Synopsys by 0.5% in the 4th 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 last quarter. Compagnie Lombard Odier SCmA lifted its holdings in shares of Synopsys by 1.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock valued at $898,000 after purchasing an additional 20 shares during the last quarter. Aptus Capital Advisors LLC lifted its holdings in shares of Synopsys by 1.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company's stock valued at $733,000 after purchasing an additional 22 shares during the last quarter. Finally, Resurgent Financial Advisors LLC lifted its holdings in shares of Synopsys by 2.8% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company's stock valued at $410,000 after purchasing an additional 22 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on SNPS. Wells Fargo & Company reduced their target price on Synopsys from $570.00 to $540.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Redburn Atlantic began coverage on Synopsys in a research note on Monday, January 13th. They set a "buy" rating and a $600.00 price objective for the company. Loop Capital began coverage on Synopsys in a research note on Monday, November 11th. They set a "buy" rating and a $675.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Finally, Piper Sandler reduced their price objective on Synopsys from $670.00 to $655.00 and set an "overweight" rating for the company in a research note on Friday, December 6th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Synopsys has a consensus rating of "Moderate Buy" and an average price target of $641.82.

Synopsys Price Performance

Shares of SNPS stock traded down $19.13 during trading hours on Friday, reaching $474.84. 1,370,372 shares of the company's stock were exchanged, compared to its average volume of 1,066,749. The company has a market cap of $73.40 billion, a P/E ratio of 32.70, a price-to-earnings-growth ratio of 3.28 and a beta of 1.12. The company's 50 day moving average is $510.88 and its two-hundred day moving average is $517.44. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.66% of the company's stock.

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.