Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,057,760 shares of the semiconductor company's stock after purchasing an additional 9,051 shares during the period. Wellington Management Group LLP owned approximately 0.68% of Synopsys worth $513,394,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Kieckhefer Group LLC purchased a new position in Synopsys during the 4th quarter valued at approximately $27,000. Whipplewood Advisors LLC purchased a new position in shares of Synopsys in the fourth quarter valued at $33,000. Sierra Ocean LLC bought a new stake in Synopsys in the fourth quarter worth $39,000. Newbridge Financial Services Group Inc. purchased a new stake in Synopsys during the fourth quarter valued at $51,000. Finally, Versant Capital Management Inc lifted its position in Synopsys by 109.3% during the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock valued at $55,000 after purchasing an additional 59 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Morgan Stanley dropped their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 target price on the stock. Robert W. Baird reduced their target price on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research note on Thursday, December 5th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Synopsys has a consensus rating of "Moderate Buy" and an average price target of $638.58.

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Synopsys Stock Up 0.6 %

Shares of SNPS stock traded up $2.61 on Wednesday, hitting $438.55. The stock had a trading volume of 1,109,689 shares, compared to its average volume of 1,052,531. Synopsys, Inc. has a one year low of $415.29 and a one year high of $624.80. The business has a 50 day moving average price of $479.67 and a 200 day moving average price of $504.45. The company has a market cap of $67.81 billion, a PE ratio of 30.20, a P/E/G ratio of 3.23 and a beta of 1.16.

Insider Activity at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction on Wednesday, January 15th. The stock was 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 approximately $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock valued at $22,794,835 over the last ninety days. 0.62% of the stock is owned by company insiders.

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.