Invesco Ltd. Raises Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Invesco Ltd. increased its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,381,496 shares of the semiconductor company's stock after acquiring an additional 68,766 shares during the period. Invesco Ltd. owned approximately 0.89% of Synopsys worth $670,523,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SNPS. Bank of Montreal Can boosted its holdings in shares of Synopsys by 6.3% in the 4th quarter. Bank of Montreal Can now owns 245,523 shares of the semiconductor company's stock worth $119,167,000 after purchasing an additional 14,540 shares during the period. Bell Asset Management Ltd purchased a new position in Synopsys during the fourth quarter worth $4,750,000. Polymer Capital Management US LLC bought a new position in Synopsys during the fourth quarter valued at $4,623,000. Himension Capital Singapore PTE. LTD. increased its position in Synopsys by 50.7% during the fourth quarter. Himension Capital Singapore PTE. LTD. now owns 27,909 shares of the semiconductor company's stock valued at $13,546,000 after acquiring an additional 9,394 shares during the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co raised its stake in shares of Synopsys by 42.4% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 53,746 shares of the semiconductor company's stock valued at $26,086,000 after acquiring an additional 16,000 shares during the period. 85.47% of the stock is owned by institutional investors.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred on 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 transaction, the executive now directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the company's 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 sale, the chief executive officer now owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock worth $22,794,835 over the last three months. 0.62% of the stock is owned by corporate insiders.

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Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Redburn Atlantic started coverage on shares of Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 price target on the stock. Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company reduced 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 set a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Finally, Morgan Stanley reduced their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $638.58.

Synopsys Price Performance

Shares of SNPS stock traded up $14.32 during mid-day trading on Friday, hitting $421.21. The stock had a trading volume of 1,745,597 shares, compared to its average volume of 1,091,393. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The firm's 50-day moving average is $457.51 and its two-hundred day moving average is $498.01. The firm has a market capitalization of $65.13 billion, a P/E ratio of 29.01, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23.

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.