Bessemer Group Inc. reduced its position in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 10.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 320,024 shares of the semiconductor company’s stock after selling 38,241 shares during the period. Bessemer Group Inc. owned 0.21% of Synopsys worth $139,343,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in SNPS. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Synopsys by 78,551.1% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 41,722,068 shares of the semiconductor company’s stock valued at $18,166,206,000 after purchasing an additional 41,669,021 shares in the last quarter. State Street Corp boosted its stake in Synopsys by 2.6% in the 1st quarter. State Street Corp now owns 6,498,958 shares of the semiconductor company’s stock worth $2,510,213,000 after purchasing an additional 166,992 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Synopsys by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,636,421 shares of the semiconductor company’s stock valued at $2,177,068,000 after buying an additional 246,007 shares in the last quarter. FMR LLC increased its position in shares of Synopsys by 14.0% during the first quarter. FMR LLC now owns 3,436,957 shares of the semiconductor company’s stock valued at $1,327,524,000 after buying an additional 420,783 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Synopsys by 1.6% in the first quarter. Geode Capital Management LLC now owns 3,245,659 shares of the semiconductor company’s stock worth $1,250,869,000 after buying an additional 52,624 shares in the last quarter. 84.12% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms recently commented on SNPS. Needham & Company LLC restated a “buy” rating and set a $500.00 target price on shares of Synopsys in a research report on Tuesday, August 15th. Morgan Stanley initiated coverage on Synopsys in a report on Friday, November 10th. They set an “overweight” rating and a $600.00 price objective for the company. KeyCorp raised their target price on shares of Synopsys from $515.00 to $540.00 and gave the company an “overweight” rating in a research note on Friday, October 13th. StockNews.com began coverage on shares of Synopsys in a research note on Thursday, October 5th. They issued a “strong-buy” rating for the company. Finally, Rosenblatt Securities restated a “buy” rating and set a $485.00 price objective on shares of Synopsys in a research report on Wednesday, August 23rd. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $506.45.
Synopsys Trading Up 1.3 %
Shares of NASDAQ SNPS opened at $541.52 on Tuesday. The firm has a fifty day simple moving average of $478.70 and a two-hundred day simple moving average of $449.84. Synopsys, Inc. has a 12 month low of $312.25 and a 12 month high of $544.72. The firm has a market capitalization of $82.37 billion, a PE ratio of 81.19, a price-to-earnings-growth ratio of 3.62 and a beta of 1.08.
Insider Buying and Selling
In other news, insider John F. Runkel, Jr. sold 2,507 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $454.35, for a total value of $1,139,055.45. Following the sale, the insider now directly owns 24,697 shares of the company’s stock, valued at approximately $11,221,081.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Synopsys news, CAO Sudhindra Kankanwadi sold 7,355 shares of Synopsys stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $491.53, for a total transaction of $3,615,203.15. Following the completion of the transaction, the chief accounting officer now owns 17,029 shares in the company, valued at $8,370,264.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John F. Runkel, Jr. sold 2,507 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $454.35, for a total value of $1,139,055.45. Following the completion of the sale, the insider now directly owns 24,697 shares in the company, valued at $11,221,081.95. The disclosure for this sale can be found here. Insiders have sold a total of 17,469 shares of company stock valued at $8,244,769 over the last ninety days. Company insiders own 0.69% of the company’s stock.
Synopsys Company Profile
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. 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.
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