Pinebridge Investments L.P. Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

Pinebridge Investments L.P. boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 92,379 shares of the semiconductor company's stock after buying an additional 9,972 shares during the quarter. Pinebridge Investments L.P. owned 0.06% of Synopsys worth $44,837,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SNPS. Nordea Investment Management AB raised its holdings in shares of Synopsys by 15.9% during the fourth 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. James Hambro & Partners LLP raised its stake in Synopsys by 30.9% during the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company's stock valued at $97,725,000 after buying an additional 47,527 shares during the last quarter. Synovus Financial Corp lifted its holdings in shares of Synopsys by 199.2% during the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock valued at $7,627,000 after buying an additional 10,028 shares during the period. Janney Capital Management LLC purchased a new position in shares of Synopsys in the 4th quarter worth $6,082,000. Finally, Artemis Investment Management LLP grew its holdings in shares of Synopsys by 4.5% in the fourth quarter. Artemis Investment Management LLP now owns 24,878 shares of the semiconductor company's stock worth $12,075,000 after acquiring an additional 1,081 shares during the period. Institutional investors own 85.47% of the company's stock.

Analyst Ratings Changes

SNPS has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Mizuho cut their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. KeyCorp reduced their target price on shares of Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $618.31.

Synopsys Stock Performance

Shares of Synopsys stock opened at $413.40 on Wednesday. The company has a fifty day moving average of $441.91 and a 200 day moving average of $493.85. The company has a market capitalization of $63.92 billion, a P/E ratio of 28.47, a P/E/G ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80.

Insider Transactions at Synopsys

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

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.

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