Banco Santander S.A. Boosts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Banco Santander S.A. grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 207.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,194 shares of the semiconductor company's stock after acquiring an additional 2,831 shares during the quarter. Banco Santander S.A.'s holdings in Synopsys were worth $2,036,000 at the end of the most recent reporting period.

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

Synopsys Stock Performance

SNPS stock traded down $21.03 during midday trading on Monday, reaching $429.85. The stock had a trading volume of 1,711,372 shares, compared to its average volume of 1,200,940. The firm has a fifty day simple moving average of $500.07 and a two-hundred day simple moving average of $510.83. Synopsys, Inc. has a 52-week low of $427.30 and a 52-week high of $624.80. The stock has a market cap of $66.46 billion, a PE ratio of 29.60, a P/E/G ratio of 3.23 and a beta of 1.16.

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Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Morgan Stanley reduced their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Robert W. Baird lowered their target price on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They set a "buy" rating and a $600.00 price target on the stock. Finally, Piper Sandler lowered their price objective on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Synopsys has an average rating of "Moderate Buy" and an average target price of $638.58.

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly 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 can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares of the company's stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock worth $22,794,835 over the last three months. 0.62% of the stock is currently owned by 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.