Mariner LLC Increases Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Mariner LLC raised its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,461 shares of the semiconductor company's stock after purchasing an additional 6,920 shares during the quarter. Mariner LLC owned about 0.08% of Synopsys worth $62,839,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Synopsys in the 4th quarter worth approximately $583,608,000. Raymond James Financial Inc. purchased a new position in Synopsys in the fourth quarter valued at $199,065,000. Proficio Capital Partners LLC raised its holdings in shares of Synopsys by 71,578.5% in the 4th 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 in the last quarter. Alecta Tjanstepension Omsesidigt purchased a new stake in shares of Synopsys during the 4th quarter worth approximately $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 purchasing an additional 159,344 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction 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 transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares of the company's stock, valued at approximately $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. Corporate insiders own 0.62% of the company's stock.

Synopsys Stock Down 0.6 %

Shares of SNPS stock traded down $2.33 on Friday, reaching $413.32. 1,002,399 shares of the stock were exchanged, compared to its average volume of 1,091,650. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The stock has a market cap of $63.91 billion, a P/E ratio of 28.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. The firm has a 50 day moving average of $446.35 and a two-hundred day moving average of $495.11.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. KeyCorp reduced their price objective on shares of Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a research note on Tuesday. Rosenblatt Securities restated a "buy" rating and issued a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Piper Sandler lowered their price objective on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Morgan Stanley reduced their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Finally, Bank of America decreased their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and a consensus price target of $618.31.

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.