Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC increased its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 86.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,641 shares of the semiconductor company's stock after purchasing an additional 8,641 shares during the quarter. New Age Alpha Advisors LLC's holdings in Synopsys were worth $9,048,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Peloton Wealth Strategists lifted its position 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 period. Nordea Investment Management AB grew its holdings in Synopsys by 15.9% in 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 purchasing an additional 143,284 shares during the last quarter. James Hambro & Partners LLP increased its position in shares of Synopsys by 30.9% in 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 in the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Synopsys by 53.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company's stock worth $13,304,000 after buying an additional 9,124 shares during the last quarter. Finally, Synovus Financial Corp increased its holdings in 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 acquiring an additional 10,028 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

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Synopsys Price Performance

SNPS stock traded up $2.83 on Tuesday, hitting $431.68. 370,086 shares of the company were exchanged, compared to its average volume of 1,210,419. The stock has a market capitalization of $66.75 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The business's fifty day moving average is $483.67 and its two-hundred day moving average is $505.29. Synopsys, Inc. has a twelve month low of $423.08 and a twelve month high of $624.80.

Insider Transactions at Synopsys

In related news, 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 transaction of $10,544,236.38. Following the completion of the sale, the executive now owns 1,460 shares of the company's stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now owns 116,671 shares in the company, 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 in the last ninety days. Insiders own 0.62% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SNPS. Needham & Company LLC restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Redburn Atlantic initiated coverage on Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 price target for the company. 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 report on Monday, February 24th. Piper Sandler cut their target price 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. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $638.58.

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.