Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 168,251 shares of the semiconductor company's stock after purchasing an additional 4,092 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.11% of Synopsys worth $81,662,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Peloton Wealth Strategists increased its stake in shares of Synopsys by 221.2% during the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company's stock valued at $1,459,000 after acquiring an additional 1,984 shares during the last quarter. Nordea Investment Management AB increased its position in Synopsys by 15.9% during the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company's stock worth $509,261,000 after purchasing an additional 143,284 shares during the last quarter. James Hambro & Partners LLP raised its stake in Synopsys by 30.9% during the fourth quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company's stock worth $97,725,000 after purchasing an additional 47,527 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of Synopsys by 53.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company's stock valued at $13,304,000 after purchasing an additional 9,124 shares during the last quarter. Finally, Synovus Financial Corp grew its stake in shares of Synopsys by 199.2% during the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock valued at $7,627,000 after buying an additional 10,028 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of research analyst reports. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 target price on the stock. Morgan Stanley reduced their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Rosenblatt Securities reissued a "buy" rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Finally, Piper Sandler dropped their price objective 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. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $638.58.

Synopsys Trading Up 2.0 %

NASDAQ:SNPS traded up $9.17 on Monday, reaching $457.77. The stock had a trading volume of 974,180 shares, compared to its average volume of 1,020,637. The company has a 50-day moving average of $491.19 and a 200 day moving average of $506.44. The stock has a market cap of $70.78 billion, a P/E ratio of 31.53, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12-month low of $425.73 and a 12-month high of $624.80.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $51,850,925.82. This represents a 11.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares of the company's stock, valued at approximately $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 90 days, insiders have sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

About Synopsys

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.