Avanza Fonder AB Purchases New Shares in Synopsys, Inc. (NASDAQ:SNPS)

Avanza Fonder AB acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,294 shares of the semiconductor company’s stock, valued at approximately $5,967,000.

A number of other large investors have also recently made changes to their positions in SNPS. Pacifica Partners Inc. bought a new stake in Synopsys in the third quarter worth about $25,000. Kieckhefer Group LLC bought a new stake in shares of Synopsys during the fourth quarter worth $27,000. Tsfg LLC boosted its stake in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares during the period. Hazlett Burt & Watson Inc. increased its stake in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the period. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Synopsys in the 3rd quarter worth $44,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Performance

NASDAQ SNPS opened at $524.31 on Friday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The firm has a market capitalization of $81.05 billion, a P/E ratio of 36.37, a PEG ratio of 3.22 and a beta of 1.12. The stock has a 50-day simple moving average of $521.29 and a two-hundred day simple moving average of $527.29.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. Loop Capital began coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. Piper Sandler dropped their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Robert W. Baird dropped their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Finally, Wells Fargo & Company reduced their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.66% of the company’s stock.

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.