Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by LPL Financial LLC

LPL Financial LLC boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 33.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,967 shares of the semiconductor company's stock after buying an additional 32,699 shares during the period. LPL Financial LLC owned 0.08% of Synopsys worth $63,081,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. Raymond James Financial Inc. acquired a new position in shares of Synopsys in the 4th quarter valued at $199,065,000. Proficio Capital Partners LLC increased 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 purchasing an additional 385,808 shares during the period. Wellington Management Group LLP raised its holdings in shares of Synopsys by 32.5% in the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company's stock valued at $531,056,000 after buying an additional 257,526 shares during the last quarter. Alecta Tjanstepension Omsesidigt acquired a new stake in shares of Synopsys during the fourth quarter worth about $104,741,000. Finally, American Century Companies Inc. grew its holdings in shares of Synopsys by 38.7% during the fourth quarter. American Century Companies Inc. now owns 571,474 shares of the semiconductor company's stock worth $277,371,000 after buying an additional 159,344 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

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Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the sale, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares of the company's stock, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,909 shares of company stock worth $22,794,835. Insiders own 0.62% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SNPS. Robert W. Baird reduced their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a research note on Thursday, December 5th. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Wells Fargo & Company dropped their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Finally, Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They set a "buy" rating and a $600.00 price target on the stock. One investment 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, Synopsys presently has an average rating of "Moderate Buy" and a consensus target price of $638.58.

Synopsys Price Performance

Synopsys stock traded down $8.28 during mid-day trading on Friday, reaching $437.95. The company had a trading volume of 941,520 shares, compared to its average volume of 1,048,262. The stock's 50-day simple moving average is $485.62 and its 200-day simple moving average is $505.55. The company has a market capitalization of $67.72 billion, a P/E ratio of 30.16, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80.

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.