Picton Mahoney Asset Management Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

Picton Mahoney Asset Management increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,489 shares of the semiconductor company’s stock after purchasing an additional 1,425 shares during the quarter. Picton Mahoney Asset Management’s holdings in Synopsys were worth $15,285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after purchasing an additional 119,057 shares during the period. Geode Capital Management LLC raised its stake in Synopsys by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after buying an additional 61,799 shares during the last quarter. Edgewood Management LLC raised its stake in Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after buying an additional 487,025 shares during the last quarter. Parnassus Investments LLC purchased a new position in Synopsys during the third quarter valued at $633,469,000. Finally, Janus Henderson Group PLC raised its stake in Synopsys by 7.7% during the third quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company’s stock valued at $577,289,000 after buying an additional 81,198 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on 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 owns 70,922 shares of the company’s stock, 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 legal filing with the SEC, which is available at this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock valued at $22,794,835 over the last 90 days. Company insiders own 0.62% of the company’s stock.

Synopsys Price Performance

Shares of SNPS opened at $446.23 on Friday. Synopsys, Inc. has a one year low of $425.73 and a one year high of $624.80. The firm has a market capitalization of $69.00 billion, a P/E ratio of 30.73, a PEG ratio of 3.23 and a beta of 1.16. The business has a fifty day moving average of $495.89 and a 200 day moving average of $508.41.

Analyst Ratings Changes

A number of brokerages have issued reports on SNPS. Needham & Company LLC reiterated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Piper Sandler lowered their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company decreased their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Finally, Morgan Stanley decreased their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

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.