Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Picton Mahoney Asset Management

Picton Mahoney Asset Management raised its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,489 shares of the semiconductor company's stock after buying an additional 1,425 shares during the quarter. Picton Mahoney Asset Management's holdings in Synopsys were worth $15,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Peloton Wealth Strategists boosted its stake in Synopsys by 221.2% during the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company's stock worth $1,459,000 after purchasing an additional 1,984 shares during the period. Swiss National Bank raised its stake in Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company's stock valued at $230,306,000 after acquiring an additional 3,200 shares during the last quarter. Parnassus Investments LLC acquired a new stake in Synopsys during the 3rd quarter worth approximately $633,469,000. Nordea Investment Management AB grew its stake in shares of Synopsys by 15.9% in the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company's stock valued at $509,261,000 after purchasing an additional 143,284 shares during the last quarter. Finally, James Hambro & Partners LLP increased its holdings in shares of Synopsys by 30.9% in the fourth quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company's stock valued at $97,725,000 after purchasing an additional 47,527 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of equities analysts have commented on SNPS shares. Needham & Company LLC restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective for the company. Rosenblatt Securities reiterated a "buy" rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Morgan Stanley reduced their price target on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Finally, Robert W. Baird dropped their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $638.58.

Synopsys Stock Up 4.1 %

Shares of SNPS traded up $17.65 on Friday, hitting $446.23. 1,118,063 shares of the stock traded hands, compared to its average volume of 1,228,387. The firm has a market capitalization of $69.00 billion, a P/E ratio of 30.73, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The stock's 50 day moving average is $495.89 and its two-hundred day moving average is $508.30.

Insider Activity

In other news, insider Geus Aart De sold 15,705 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares of the company's stock, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock valued at $22,794,835 over the last quarter. Company insiders own 0.62% of the company's stock.

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.