NEOS Investment Management LLC grew its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 19.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,318 shares of the semiconductor company's stock after buying an additional 2,470 shares during the quarter. NEOS Investment Management LLC's holdings in Synopsys were worth $7,435,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Kieckhefer Group LLC purchased a new stake in Synopsys in the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys in the fourth quarter worth $33,000. Sierra Ocean LLC bought a new stake in shares of Synopsys during the 4th quarter valued at $39,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Synopsys during the 4th quarter valued at $51,000. Finally, Versant Capital Management Inc boosted its holdings 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 buying an additional 59 shares during the period. Institutional investors own 85.47% of the company's stock.
Synopsys Stock Up 0.9 %
Shares of NASDAQ:SNPS traded up $3.87 during midday trading on Tuesday, reaching $432.72. The company's stock had a trading volume of 317,004 shares, compared to its average volume of 1,046,720. 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 $66.91 billion, a PE ratio of 29.70, a P/E/G ratio of 3.23 and a beta of 1.16. The stock has a fifty day moving average of $483.67 and a 200 day moving average of $505.29.
Analyst Ratings Changes
Several brokerages recently issued reports on SNPS. Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Robert W. Baird reduced their price objective on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research report on Thursday, December 5th. Piper Sandler lowered their price objective 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. Finally, Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 target price on the stock. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and an average price target of $638.58.
Read Our Latest Research Report on SNPS
Insider Buying and Selling at Synopsys
In related news, insider Geus Aart De sold 15,705 shares of Synopsys 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 in the company, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % 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 valued at $22,794,835. Corporate insiders own 0.62% of the company's stock.
Synopsys Company Profile
(
Free Report)
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.
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