Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 21.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,902,696 shares of the semiconductor company's stock after purchasing an additional 1,045,326 shares during the period. Price T Rowe Associates Inc. MD owned approximately 3.82% of Synopsys worth $2,864,933,000 at the end of the most recent reporting period.

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

Synopsys Trading Up 2.7 %

Shares of SNPS opened at $413.40 on Wednesday. The company's 50 day simple moving average is $441.91 and its 200-day simple moving average is $493.85. The firm has a market cap of $63.92 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the company's 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 transaction, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Piper Sandler reduced their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They set a "buy" rating and a $600.00 target price for the company. Mizuho cut their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Bank of America lowered their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Synopsys currently has an average rating of "Moderate Buy" and a consensus price target of $618.31.

Synopsys 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.

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