Raymond James Financial Inc. Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Raymond James Financial Inc. purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 410,137 shares of the semiconductor company's stock, valued at approximately $199,065,000. Raymond James Financial Inc. owned about 0.27% of Synopsys at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Kieckhefer Group LLC bought a new stake in Synopsys in the 4th quarter valued at $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Synopsys during the 4th quarter worth about $33,000. Sierra Ocean LLC acquired a new stake in shares of Synopsys during the 4th quarter worth about $39,000. Newbridge Financial Services Group Inc. acquired a new position in Synopsys in the 4th quarter valued at about $51,000. Finally, Versant Capital Management Inc raised its holdings in Synopsys by 109.3% in the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock valued at $55,000 after acquiring an additional 59 shares during the period. Institutional investors own 85.47% of the company's stock.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction on Monday, March 3rd. The stock was 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 of the company's stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares of the company's stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

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Synopsys Stock Performance

Shares of Synopsys stock traded up $5.15 during trading on Friday, reaching $450.88. 1,119,173 shares of the company's stock were exchanged, compared to its average volume of 1,189,363. Synopsys, Inc. has a 1-year low of $429.77 and a 1-year high of $624.80. The company has a market cap of $69.72 billion, a P/E ratio of 31.05, a PEG ratio of 3.23 and a beta of 1.16. The firm's 50-day moving average price is $501.21 and its 200 day moving average price is $512.03.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 price objective for the company. Morgan Stanley reduced their price target on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Needham & Company LLC reiterated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Wells Fargo & Company reduced their target price on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $638.58.

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.