Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 38.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 348,229 shares of the semiconductor company's stock after buying an additional 96,147 shares during the period. Clearbridge Investments LLC owned about 0.23% of Synopsys worth $169,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Remove Ads

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Needham & Company LLC reissued a "buy" rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Redburn Atlantic started coverage on shares of Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 price objective on the stock. Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Finally, Robert W. Baird decreased their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, Synopsys has an average rating of "Moderate Buy" and a consensus target price of $638.58.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction 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 directly owns 116,671 shares in the company, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock worth $22,794,835 in the last three months. Corporate insiders own 0.62% of the company's stock.

Synopsys Price Performance

Synopsys stock traded down $29.63 during midday trading on Friday, reaching $388.13. The company's stock had a trading volume of 2,513,019 shares, compared to its average volume of 1,064,106. Synopsys, Inc. has a 52-week low of $387.41 and a 52-week high of $624.80. The stock has a market capitalization of $60.01 billion, a P/E ratio of 26.73, a PEG ratio of 3.23 and a beta of 1.16. The stock's 50-day simple moving average is $473.83 and its 200-day simple moving average is $503.08.

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.