Ilmarinen Mutual Pension Insurance Co Boosts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Ilmarinen Mutual Pension Insurance Co grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 42.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,746 shares of the semiconductor company's stock after purchasing an additional 16,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Synopsys were worth $26,086,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SNPS. Kieckhefer Group LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys in the 4th quarter worth $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Synopsys during the 4th quarter worth $34,000. Sierra Ocean LLC purchased a new position in shares of Synopsys during the fourth quarter valued at $39,000. Finally, Hazlett Burt & Watson Inc. lifted its stake in Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Activity

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,909 shares of company stock valued at $22,794,835. Company insiders own 0.62% of the company's stock.

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Synopsys Stock Performance

SNPS stock traded down $17.62 during midday trading on Thursday, reaching $411.08. The stock had a trading volume of 778,779 shares, compared to its average volume of 1,082,927. The firm has a fifty day simple moving average of $461.83 and a two-hundred day simple moving average of $499.45. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The stock has a market cap of $63.56 billion, a PE ratio of 28.20, a P/E/G ratio of 3.23 and a beta of 1.23.

Analysts Set New Price Targets

SNPS has been the subject of several research reports. Piper Sandler lowered their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Wells Fargo & Company cut their target price on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. Rosenblatt Securities reissued a "buy" rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective on the stock. Finally, Morgan Stanley decreased their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.