Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Norinchukin Bank The

Norinchukin Bank The grew its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 15.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,455 shares of the semiconductor company's stock after buying an additional 1,502 shares during the period. Norinchukin Bank The's holdings in Synopsys were worth $5,560,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNPS. 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 worth $509,261,000 after purchasing an additional 143,284 shares during the last quarter. James Hambro & Partners LLP boosted its position in shares of Synopsys by 30.9% in the 4th 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 in the last quarter. Synovus Financial Corp grew its stake in Synopsys by 199.2% during the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock worth $7,627,000 after buying an additional 10,028 shares during the last quarter. Janney Capital Management LLC acquired a new position in Synopsys during the 4th quarter valued at about $6,082,000. Finally, Artemis Investment Management LLP raised its stake in Synopsys by 4.5% in the fourth quarter. Artemis Investment Management LLP now owns 24,878 shares of the semiconductor company's stock valued at $12,075,000 after buying an additional 1,081 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities reissued a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. 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. Bank of America cut their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 target price for the company. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $618.31.

Synopsys Trading Up 2.1 %

SNPS traded up $8.83 on Wednesday, hitting $422.23. 1,007,528 shares of the company's stock were exchanged, compared to its average volume of 1,088,456. The firm has a 50-day moving average price of $441.91 and a 200-day moving average price of $493.85. The stock has a market cap of $65.29 billion, a price-to-earnings ratio of 29.08, a P/E/G ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, 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. 0.62% of the stock is currently owned by company insiders.

Synopsys Company Profile

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.