Mitsubishi UFJ Asset Management Co. Ltd. Raises Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 10.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 257,128 shares of the semiconductor company's stock after purchasing an additional 24,346 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.17% of Synopsys worth $126,947,000 at the end of the most recent reporting period.

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

Synopsys Trading Up 1.7 %

Shares of Synopsys stock traded up $7.09 during trading hours on Tuesday, reaching $435.94. The stock had a trading volume of 985,635 shares, compared to its average volume of 1,051,051. The stock's 50 day moving average is $481.79 and its 200 day moving average is $504.91. Synopsys, Inc. has a twelve month low of $423.08 and a twelve month high of $624.80. The firm has a market capitalization of $67.41 billion, a PE ratio of 30.02, a PEG ratio of 3.23 and a beta of 1.16.

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Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the 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 directly owns 70,922 shares of the company's stock, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares of the company's stock, valued at $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock worth $22,794,835 in the last 90 days. Corporate insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SNPS. 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. Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They issued a "buy" rating and a $600.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Morgan Stanley decreased their price objective 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, Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.