Pictet Asset Management Holding SA Buys 60,121 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Pictet Asset Management Holding SA increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,758,759 shares of the semiconductor company's stock after buying an additional 60,121 shares during the period. Synopsys comprises approximately 0.9% of Pictet Asset Management Holding SA's holdings, making the stock its 17th biggest holding. Pictet Asset Management Holding SA owned about 1.14% of Synopsys worth $853,631,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Peloton Wealth Strategists increased its stake in shares of Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company's stock worth $1,459,000 after buying an additional 1,984 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Synopsys by 15.9% in the 4th 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 raised its stake 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 valued at $97,725,000 after purchasing an additional 47,527 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Synopsys by 53.2% during the third quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company's stock worth $13,304,000 after purchasing an additional 9,124 shares during the last quarter. Finally, Synovus Financial Corp grew 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 purchasing 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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Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They set a "buy" rating and a $600.00 price objective on the stock. 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 reissued a "buy" rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Morgan Stanley dropped their price target 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, Needham & Company LLC reiterated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven 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 a consensus target price of $638.58.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares of the company's stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded up $2.70 on Tuesday, hitting $431.55. The stock had a trading volume of 370,086 shares, compared to its average volume of 1,210,419. The company has a market capitalization of $66.73 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 firm's 50 day moving average price is $483.67 and its 200-day moving average price is $505.29. Synopsys, Inc. has a twelve month low of $423.08 and a twelve month high of $624.80.

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.