34,700 Shares in Synopsys, Inc. (NASDAQ:SNPS) Bought by Talos Asset Management LP

Talos Asset Management LP acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 34,700 shares of the semiconductor company's stock, valued at approximately $16,842,000. Synopsys comprises approximately 4.0% of Talos Asset Management LP's investment portfolio, making the stock its 11th biggest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of SNPS. Kieckhefer Group LLC acquired a new position in Synopsys during the 4th quarter worth about $27,000. Whipplewood Advisors LLC acquired a new position in shares of Synopsys during the fourth quarter worth approximately $33,000. Sierra Ocean LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Synopsys in the fourth quarter valued at approximately $51,000. Finally, Versant Capital Management Inc raised its position in Synopsys by 109.3% in the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock worth $55,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 11,366 shares of the firm's 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 completion of the transaction, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction 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 sale, 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 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 ninety days. Company insiders own 0.62% of the company's stock.

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Synopsys Stock Performance

SNPS stock traded up $9.17 during mid-day trading on Monday, hitting $457.77. 974,180 shares of the company were exchanged, compared to its average volume of 1,020,637. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80. The firm's 50 day simple moving average is $490.60 and its 200 day simple moving average is $506.31. The firm has a market cap of $70.78 billion, a P/E ratio of 31.53, a P/E/G ratio of 3.23 and a beta of 1.16.

Analyst Ratings Changes

SNPS has been the topic of a number of recent research reports. Piper Sandler decreased their price objective on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company reduced their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Robert W. Baird dropped their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Finally, Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a "buy" rating and a $600.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock 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.