Voya Investment Management LLC Acquires 5,805 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Voya Investment Management LLC lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,207 shares of the semiconductor company's stock after buying an additional 5,805 shares during the quarter. Voya Investment Management LLC's holdings in Synopsys were worth $23,398,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SNPS. D1 Capital Partners L.P. acquired a new position in Synopsys in the fourth quarter valued at approximately $122,796,000. Analog Century Management LP boosted its holdings in Synopsys by 12.8% in the fourth quarter. Analog Century Management LP now owns 164,809 shares of the semiconductor company's stock valued at $79,992,000 after purchasing an additional 18,748 shares in the last quarter. Coppell Advisory Solutions LLC boosted its holdings in Synopsys by 153.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 446 shares of the semiconductor company's stock valued at $217,000 after purchasing an additional 270 shares in the last quarter. Pinebridge Investments L.P. boosted its holdings in Synopsys by 12.1% in the fourth quarter. Pinebridge Investments L.P. now owns 92,379 shares of the semiconductor company's stock valued at $44,837,000 after purchasing an additional 9,972 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after purchasing an additional 1,045,326 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Synopsys

In other 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 directly owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares of the company's stock, valued at approximately $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. Company insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus set a $550.00 price objective on Synopsys in a report on Monday. Redburn Atlantic began coverage on Synopsys in a research note on Monday, January 13th. They set a "buy" rating and a $600.00 price target for the company. Bank of America cut their price target on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. KeyCorp cut their price target on Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Finally, Rosenblatt Securities restated a "buy" rating and set a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $613.43.

Synopsys Stock Up 3.8 %

SNPS traded up $16.80 during trading on Tuesday, reaching $460.77. The stock had a trading volume of 1,413,964 shares, compared to its average volume of 1,091,081. The firm has a market capitalization of $71.24 billion, a price-to-earnings ratio of 31.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The stock has a 50 day moving average of $434.86 and a two-hundred day moving average of $491.06.

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.