Horizon Investments LLC Increases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Horizon Investments LLC raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 76.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,671 shares of the semiconductor company's stock after purchasing an additional 2,886 shares during the quarter. Horizon Investments LLC's holdings in Synopsys were worth $3,238,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kieckhefer Group LLC bought a new position in shares of Synopsys during the 4th quarter valued at approximately $27,000. Whipplewood Advisors LLC bought a new position in Synopsys during the fourth quarter valued at $33,000. Sierra Ocean LLC purchased a new stake in shares of Synopsys in the fourth quarter valued at $39,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Synopsys in the 4th quarter worth about $51,000. Finally, Versant Capital Management Inc boosted its stake in shares of Synopsys by 109.3% during the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock worth $55,000 after purchasing an additional 59 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Down 0.3 %

NASDAQ:SNPS traded down $1.39 during mid-day trading on Friday, reaching $448.60. The company's stock had a trading volume of 3,362,089 shares, compared to its average volume of 1,020,823. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The stock has a fifty day moving average of $491.19 and a 200-day moving average of $506.23. The firm has a market capitalization of $69.36 billion, a PE ratio of 30.90, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

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Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the company's stock in a transaction 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 of the company's stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Morgan Stanley reduced 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. 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 report on Thursday, December 5th. Needham & Company LLC restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Piper Sandler decreased their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $638.58.

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.