Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. raised its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,418 shares of the semiconductor company's stock after acquiring an additional 1,836 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Synopsys were worth $11,859,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Pine Valley Investments Ltd Liability Co raised its position in Synopsys by 44.8% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 727 shares of the semiconductor company's stock worth $368,000 after purchasing an additional 225 shares during the period. World Investment Advisors LLC bought a new stake in shares of Synopsys during the 3rd quarter worth approximately $253,000. Wilmington Savings Fund Society FSB purchased a new position in Synopsys during the 3rd quarter valued at $865,000. Blankinship & Foster LLC purchased a new stake in Synopsys in the third quarter worth $2,772,000. Finally, Synovus Financial Corp lifted its position in shares of Synopsys by 199.2% during the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock worth $7,627,000 after purchasing an additional 10,028 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the sale, the chief executive officer now owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

Synopsys Price Performance

Shares of SNPS stock traded down $2.33 during midday trading on Friday, hitting $413.32. The company had a trading volume of 1,002,399 shares, compared to its average volume of 1,091,650. The stock has a market cap of $63.91 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 3.23 and a beta of 1.23. The company's 50 day simple moving average is $446.35 and its 200 day simple moving average is $495.11. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SNPS. Needham & Company LLC reiterated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Piper Sandler lowered their price target on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Mizuho decreased their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 price target on the stock. Finally, KeyCorp decreased their price objective on Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Synopsys presently has a consensus rating of "Moderate Buy" and an average price target of $618.31.

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.