M & L Capital Management Ltd Acquires Shares of 44,550 Synopsys, Inc. (NASDAQ:SNPS)

M & L Capital Management Ltd purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 44,550 shares of the semiconductor company's stock, valued at approximately $21,623,000. Synopsys accounts for 5.3% of M & L Capital Management Ltd's investment portfolio, making the stock its 6th biggest position.

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

Synopsys Stock Up 1.7 %

Shares of SNPS stock traded up $7.52 on Monday, reaching $453.75. The stock had a trading volume of 1,166,020 shares, compared to its average volume of 1,019,902. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80. The firm has a market capitalization of $70.16 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 3.23 and a beta of 1.16. The firm's 50-day moving average is $495.89 and its two-hundred day moving average is $508.30.

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Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction dated 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock worth $22,794,835 over the last 90 days. Company insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SNPS shares. Wells Fargo & Company dropped their price target 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. Robert W. Baird dropped their target price 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. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Morgan Stanley reduced their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Finally, Piper Sandler dropped their price target on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $638.58.

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.