Gardner Lewis Asset Management L P Acquires 628 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Gardner Lewis Asset Management L P boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,798 shares of the semiconductor company's stock after purchasing an additional 628 shares during the period. Synopsys comprises 1.2% of Gardner Lewis Asset Management L P's holdings, making the stock its 29th largest position. Gardner Lewis Asset Management L P's holdings in Synopsys were worth $4,756,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. DnB Asset Management AS raised its stake in shares of Synopsys by 9.3% in the fourth quarter. DnB Asset Management AS now owns 47,127 shares of the semiconductor company's stock valued at $22,874,000 after buying an additional 4,003 shares during the period. Level Four Advisory Services LLC raised its position in shares of Synopsys by 46.1% in the fourth quarter. Level Four Advisory Services LLC now owns 773 shares of the semiconductor company's stock valued at $375,000 after purchasing an additional 244 shares during the period. Premier Fund Managers Ltd lifted its stake in shares of Synopsys by 40.9% during the 4th quarter. Premier Fund Managers Ltd now owns 22,988 shares of the semiconductor company's stock valued at $11,193,000 after buying an additional 6,671 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Synopsys by 3.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,758,759 shares of the semiconductor company's stock worth $853,631,000 after buying an additional 60,121 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in Synopsys by 4.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 58,615 shares of the semiconductor company's stock valued at $28,449,000 after buying an additional 2,526 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of research firms have recently commented on SNPS. Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 price target for the company. Robert W. Baird reduced their target price on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. Wells Fargo & Company lowered their price target on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. Morgan Stanley decreased their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Finally, Rosenblatt Securities restated a "buy" rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $638.58.

Synopsys Stock Performance

SNPS traded up $2.86 during trading on Tuesday, reaching $431.71. The stock had a trading volume of 370,086 shares, compared to its average volume of 1,046,962. The business has a 50-day moving average of $483.67 and a 200-day moving average of $505.29. Synopsys, Inc. has a one year low of $423.08 and a one year high of $624.80. The stock has a market cap of $66.75 billion, a PE ratio of 29.73, a PEG ratio of 3.23 and a beta of 1.16.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the company's stock in a transaction 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 directly owns 1,460 shares of the company's stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,909 shares of company stock valued at $22,794,835. Corporate insiders own 0.62% of the company's stock.

Synopsys 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.