IQ EQ FUND MANAGEMENT IRELAND Ltd Purchases New Shares in Synopsys, Inc. (NASDAQ:SNPS)

IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 615 shares of the semiconductor company's stock, valued at approximately $298,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock worth $7,029,360,000 after buying an additional 120,575 shares in the last quarter. State Street Corp boosted its position in shares of Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company's stock valued at $3,518,637,000 after acquiring an additional 119,057 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Synopsys by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company's stock worth $1,656,005,000 after purchasing an additional 61,799 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Synopsys by 7.7% in the third quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company's stock worth $577,289,000 after purchasing an additional 81,198 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Synopsys by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,086,249 shares of the semiconductor company's stock valued at $527,222,000 after purchasing an additional 3,533 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

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Synopsys Trading Up 1.2 %

Shares of SNPS stock traded up $5.18 during mid-day trading on Tuesday, reaching $434.03. The stock had a trading volume of 656,187 shares, compared to its average volume of 1,048,161. The stock's 50-day moving average price is $483.67 and its two-hundred day moving average price is $505.29. The firm has a market capitalization of $67.11 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52-week low of $423.08 and a 52-week high of $624.80.

Insider Activity 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 transaction of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock worth $22,794,835 in the last 90 days. Company insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SNPS shares. Robert W. Baird decreased their price target on shares of 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 reaffirmed a "buy" rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Wells Fargo & Company reduced their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Finally, Morgan Stanley decreased their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.