Picton Mahoney Asset Management Purchases 1,425 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Picton Mahoney Asset Management boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,489 shares of the semiconductor company's stock after purchasing an additional 1,425 shares during the period. Picton Mahoney Asset Management's holdings in Synopsys were worth $15,285,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. Kieckhefer Group LLC bought a new stake in Synopsys in the fourth quarter worth approximately $27,000. Whipplewood Advisors LLC bought a new stake in Synopsys in the fourth quarter worth approximately $33,000. Sierra Ocean LLC bought a new stake in Synopsys in the fourth quarter worth approximately $39,000. Newbridge Financial Services Group Inc. bought a new stake in Synopsys in the fourth quarter worth approximately $51,000. Finally, Versant Capital Management Inc grew its position in Synopsys by 109.3% in the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock worth $55,000 after acquiring an additional 59 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Up 2.2 %

Synopsys stock traded up $9.94 on Monday, hitting $456.17. The company's stock had a trading volume of 970,402 shares, compared to its average volume of 1,222,084. The firm has a market cap of $70.53 billion, a P/E ratio of 31.48, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The company has a fifty day moving average price of $495.89 and a 200-day moving average price of $508.30. Synopsys, Inc. has a one year low of $425.73 and a one year high of $624.80.

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Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now owns 1,460 shares of the company's stock, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a 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 dated 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 completion of the sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock valued at $22,794,835 in the last 90 days. 0.62% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on SNPS shares. Wells Fargo & Company reduced their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Morgan Stanley reduced 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. Rosenblatt Securities restated a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Robert W. Baird reduced their price objective on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a research note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $638.58.

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.