Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 38.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 348,229 shares of the semiconductor company’s stock after purchasing an additional 96,147 shares during the quarter. Clearbridge Investments LLC owned about 0.23% of Synopsys worth $169,017,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Martin Currie Ltd. purchased a new stake in Synopsys in the 4th quarter valued at about $13,912,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Synopsys in the fourth quarter worth approximately $1,678,000. Allianz SE purchased a new stake in Synopsys in the fourth quarter valued at approximately $2,371,000. Allstate Corp purchased a new position in Synopsys during the fourth quarter worth approximately $2,200,000. Finally, Maridea Wealth Management LLC acquired a new position in shares of Synopsys in the 4th quarter valued at $504,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNPS. Morgan Stanley dropped 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. Needham & Company LLC restated a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Piper Sandler reduced their price target 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. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Trading Down 1.9 %

Shares of SNPS stock opened at $437.95 on Monday. The firm has a fifty day simple moving average of $485.62 and a 200-day simple moving average of $505.72. The company has a market capitalization of $67.72 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a twelve month low of $425.73 and a twelve month high of $624.80.

Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the 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 completion of the transaction, 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 have sold 47,909 shares of company stock worth $22,794,835 in the last quarter. 0.62% of the stock is owned by corporate insiders.

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.