World Investment Advisors Raises Position in Synopsys, Inc. (NASDAQ:SNPS)

World Investment Advisors boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 757.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,279 shares of the semiconductor company's stock after purchasing an additional 3,780 shares during the period. World Investment Advisors' holdings in Synopsys were worth $2,077,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of SNPS. Caprock Group LLC raised its stake in Synopsys by 0.5% in the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company's stock valued at $1,803,000 after acquiring an additional 20 shares during the period. Compagnie Lombard Odier SCmA boosted its holdings in shares of Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock worth $898,000 after buying an additional 20 shares during the period. Edge Capital Group LLC grew its stake in Synopsys by 1.2% in the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock valued at $791,000 after buying an additional 20 shares during the last quarter. Barden Capital Management Inc. raised its holdings in Synopsys by 1.1% in the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock valued at $889,000 after acquiring an additional 20 shares during the period. Finally, Hazlett Burt & Watson Inc. lifted its position in Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 20 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

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Synopsys Trading Down 7.4 %

Synopsys stock traded down $31.54 during trading on Thursday, hitting $397.16. 465,884 shares of the company were exchanged, compared to its average volume of 1,081,725. The business's 50 day moving average is $461.83 and its 200 day moving average is $499.45. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. The company has a market capitalization of $61.41 billion, a P/E ratio of 27.35, a PEG ratio of 3.23 and a beta of 1.23.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SNPS. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research 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. Piper Sandler decreased their target price on shares of 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 decreased their target price on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $638.58.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now owns 116,671 shares of the company's stock, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction dated 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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 47,909 shares of company stock valued at $22,794,835. Corporate insiders own 0.62% of the company's stock.

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.