Mirabella Financial Services LLP Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Mirabella Financial Services LLP acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 20,131 shares of the semiconductor company's stock, valued at approximately $9,767,000. Synopsys accounts for 0.9% of Mirabella Financial Services LLP's holdings, making the stock its 27th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Synopsys in the 4th quarter valued at $583,608,000. Capital Research Global Investors bought a new stake in shares of Synopsys in the fourth quarter valued at about $239,864,000. Raymond James Financial Inc. acquired a new position in shares of Synopsys during the fourth quarter worth about $199,065,000. Proficio Capital Partners LLC grew its holdings in shares of Synopsys by 71,578.5% during the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company's stock worth $187,517,000 after buying an additional 385,808 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new stake in Synopsys in the 4th quarter valued at approximately $104,741,000. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

SNPS traded up $3.40 during trading hours on Friday, reaching $442.30. The company's stock had a trading volume of 514,119 shares, compared to its average volume of 1,084,932. The company's 50-day moving average is $438.23 and its 200-day moving average is $492.97. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. The firm has a market cap of $68.39 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23.

Insider Activity

In other news, insider Geus Aart De sold 15,705 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on Monday, March 3rd. The stock was 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 directly owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

SNPS has been the subject of several research reports. Bank of America decreased their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Piper Sandler decreased their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Morgan Stanley cut their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Needham & Company LLC restated a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Finally, KeyCorp lowered their target price on Synopsys from $690.00 to $555.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Synopsys currently has an average rating of "Moderate Buy" and an average target price of $618.31.

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.