UniSuper Management Pty Ltd raised its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 149.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,953 shares of the semiconductor company's stock after acquiring an additional 41,316 shares during the quarter. UniSuper Management Pty Ltd's holdings in Synopsys were worth $33,467,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kieckhefer Group LLC acquired a new position in shares of Synopsys during the fourth quarter valued at $27,000. Whipplewood Advisors LLC bought a new stake in shares of Synopsys during the fourth quarter worth approximately $33,000. Sierra Ocean LLC acquired a new position in Synopsys in the fourth quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. bought a new position in Synopsys in the fourth quarter valued at approximately $51,000. Finally, Versant Capital Management Inc grew its holdings in Synopsys by 109.3% during the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock worth $55,000 after acquiring an additional 59 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on SNPS. Needham & Company LLC reissued a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research note 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 restated a "buy" rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Morgan Stanley reduced their price objective on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Finally, Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 target price for the company. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Synopsys has a consensus rating of "Moderate Buy" and a consensus target price of $638.58.
Check Out Our Latest Report on Synopsys
Insider Activity
In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This trade 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 is available at the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following 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 have sold a total of 47,909 shares of company stock worth $22,794,835 over the last three months. Corporate insiders own 0.62% of the company's stock.
Synopsys Stock Performance
NASDAQ SNPS traded down $8.28 on Friday, reaching $437.95. The company had a trading volume of 941,520 shares, compared to its average volume of 1,048,262. The company's fifty day moving average is $485.62 and its 200-day moving average is $505.55. The firm has a market capitalization of $67.72 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80.
Synopsys Profile
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Free Report)
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.
Further Reading
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