Premier Fund Managers Ltd Acquires 6,671 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Premier Fund Managers Ltd boosted its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 40.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,988 shares of the semiconductor company's stock after acquiring an additional 6,671 shares during the quarter. Premier Fund Managers Ltd's holdings in Synopsys were worth $11,193,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new position in shares of Synopsys during the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC bought a new stake in Synopsys in the fourth quarter worth $33,000. Sierra Ocean LLC purchased a new stake in shares of Synopsys in the fourth quarter worth $39,000. Newbridge Financial Services Group Inc. bought a new position in shares of Synopsys during the fourth quarter valued at $51,000. Finally, Versant Capital Management Inc raised its position in shares of 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 purchasing an additional 59 shares during the last quarter. Institutional investors own 85.47% of the company's stock.

Synopsys Stock Up 0.6 %

NASDAQ:SNPS traded up $2.70 during trading hours on Tuesday, hitting $431.55. 370,086 shares of the stock traded hands, compared to its average volume of 1,210,419. The company has a market cap of $66.73 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $423.08 and a 1 year high of $624.80. The stock has a 50 day moving average price of $483.67 and a 200 day moving average price of $505.29.

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Analyst Ratings Changes

SNPS has been the subject of a number of analyst reports. 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 reaffirmed a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Robert W. Baird reduced their target price on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. Piper Sandler lowered their price target on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Finally, Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective for the company. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Synopsys currently has a consensus rating of "Moderate Buy" and an average price target of $638.58.

Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm'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 directly owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction on 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 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. In the last quarter, insiders sold 47,909 shares of company stock worth $22,794,835. 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.