Vanguard Group Inc. Raises Stake in Synopsys, Inc. (NASDAQ:SNPS)

Vanguard Group Inc. boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,482,776 shares of the semiconductor company's stock after acquiring an additional 120,575 shares during the quarter. Vanguard Group Inc. owned about 9.37% of Synopsys worth $7,029,360,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SNPS. Kieckhefer Group LLC bought a new position in Synopsys during the fourth quarter valued at $27,000. Whipplewood Advisors LLC bought a new position in shares of Synopsys during the fourth quarter valued at approximately $33,000. Sierra Ocean LLC bought a new stake in shares of Synopsys during the 4th quarter worth approximately $39,000. Newbridge Financial Services Group Inc. purchased a new position in Synopsys during the 4th quarter valued at $51,000. Finally, Versant Capital Management Inc grew 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 valued at $55,000 after acquiring an additional 59 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value 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 approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business's 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 sale, 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. Over the last 90 days, insiders sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

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Synopsys Trading Down 0.9 %

Shares of SNPS traded down $3.92 during midday trading on Thursday, hitting $445.98. 228,149 shares of the company's stock traded hands, compared to its average volume of 1,013,920. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The firm's fifty day moving average is $488.79 and its 200-day moving average is $505.87. The stock has a market capitalization of $68.96 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SNPS shares. Morgan Stanley cut their price target 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. Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 target price on the stock. Rosenblatt Securities restated a "buy" rating and set a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Piper Sandler dropped their price target on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Finally, Wells Fargo & Company decreased their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Synopsys currently has a consensus rating of "Moderate Buy" and an average price target of $638.58.

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.