Polymer Capital Management US LLC purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,525 shares of the semiconductor company's stock, valued at approximately $4,623,000. Synopsys accounts for approximately 1.2% of Polymer Capital Management US LLC's portfolio, making the stock its 18th biggest holding.
Several other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Synopsys in the 4th quarter worth about $583,608,000. Raymond James Financial Inc. acquired a new stake in Synopsys in the 4th quarter valued at approximately $199,065,000. Proficio Capital Partners LLC raised its stake in Synopsys by 71,578.5% during the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company's stock valued at $187,517,000 after acquiring an additional 385,808 shares in the last quarter. Alecta Tjanstepension Omsesidigt bought a new stake in Synopsys during the 4th quarter valued at $104,741,000. Finally, American Century Companies Inc. boosted its position in Synopsys by 38.7% during the 4th quarter. American Century Companies Inc. now owns 571,474 shares of the semiconductor company's stock worth $277,371,000 after acquiring an additional 159,344 shares during the period. Institutional investors own 85.47% of the company's stock.
Insider Activity at Synopsys
In other news, insider Geus Aart De sold 15,705 shares of the stock in a transaction on 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 sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 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. Insiders sold 47,909 shares of company stock worth $22,794,835 in the last quarter. 0.62% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on SNPS. Wells Fargo & Company cut their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. Morgan Stanley dropped their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Synopsys currently has a consensus rating of "Moderate Buy" and a consensus target price of $638.58.
View Our Latest Analysis on SNPS
Synopsys Price Performance
Shares of SNPS traded up $14.32 during trading hours on Friday, hitting $421.21. 1,745,597 shares of the company were exchanged, compared to its average volume of 1,090,275. The company has a market capitalization of $65.13 billion, a PE ratio of 29.01, a PEG ratio of 3.23 and a beta of 1.23. The firm has a fifty day simple moving average of $457.51 and a 200-day simple moving average of $498.13. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80.
About Synopsys
(
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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