Bancreek Capital Management LP Invests $3.83 Million in Synopsys, Inc. (NASDAQ:SNPS)

Bancreek Capital Management LP purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, HoldingsChannel reports. The fund purchased 7,885 shares of the semiconductor company’s stock, valued at approximately $3,827,000. Synopsys comprises approximately 3.7% of Bancreek Capital Management LP’s holdings, making the stock its 15th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Peloton Wealth Strategists lifted its holdings in shares of Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after purchasing an additional 1,984 shares in the last quarter. Nordea Investment Management AB lifted its stake in Synopsys by 15.9% in the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after acquiring an additional 143,284 shares in the last quarter. James Hambro & Partners LLP boosted its position in Synopsys by 30.9% during the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock worth $97,725,000 after acquiring an additional 47,527 shares during the period. Orion Portfolio Solutions LLC grew its stake in Synopsys by 53.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company’s stock valued at $13,304,000 after acquiring an additional 9,124 shares in the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of Synopsys by 199.2% in the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock valued at $7,627,000 after purchasing an additional 10,028 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other Synopsys 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 sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock worth $22,794,835 over the last 90 days. Insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS stock opened at $448.60 on Friday. The stock’s 50 day simple moving average is $491.19 and its 200 day simple moving average is $506.06. Synopsys, Inc. has a twelve month low of $425.73 and a twelve month high of $624.80. The company has a market capitalization of $69.36 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 3.23 and a beta of 1.16.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Piper Sandler lowered their price target 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 cut their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Robert W. Baird lowered their target price on 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 investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

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.