Marathon Trading Investment Management LLC Purchases New Stake in Synopsys, Inc. (NASDAQ:SNPS)

Marathon Trading Investment Management LLC purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,000 shares of the semiconductor company's stock, valued at approximately $971,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SNPS. State Street Corp boosted its holdings in Synopsys by 1.7% in 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 purchasing an additional 119,057 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Synopsys by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company's stock worth $1,656,005,000 after acquiring an additional 61,799 shares in the last quarter. Edgewood Management LLC grew its holdings in shares of Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company's stock worth $1,554,540,000 after acquiring an additional 487,025 shares during the period. Parnassus Investments LLC purchased a new stake in Synopsys during the third quarter worth $633,469,000. Finally, Janus Henderson Group PLC boosted its position in Synopsys by 7.7% during 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 in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In related news, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated 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 transaction, the insider now owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 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 trade represents a 13.81 % decrease in their position. 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. 0.62% of the stock is currently owned by corporate insiders.

Synopsys Price Performance

NASDAQ SNPS traded down $3.88 during trading hours on Thursday, hitting $428.58. The company had a trading volume of 1,541,351 shares, compared to its average volume of 1,230,743. The firm's 50 day moving average is $496.84 and its 200 day moving average is $508.96. The company has a market capitalization of $66.27 billion, a price-to-earnings ratio of 29.52, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a fifty-two week low of $425.73 and a fifty-two week high of $624.80.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SNPS. Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They set a "buy" rating and a $600.00 price target for the company. Wells Fargo & Company dropped their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Morgan Stanley reduced their price target on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $638.58.

Synopsys 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.