Polymer Capital Management US LLC Buys New Position in Synopsys, Inc. (NASDAQ:SNPS)

Polymer Capital Management US LLC purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,525 shares of the semiconductor company’s stock, valued at approximately $4,623,000. Synopsys comprises approximately 1.2% of Polymer Capital Management US LLC’s investment portfolio, making the stock its 18th largest holding.

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

Wall Street Analyst Weigh In

SNPS has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Redburn Atlantic began coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Wells Fargo & Company reduced their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Finally, Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $638.58.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on 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 owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock valued at $22,794,835 in the last quarter. Company insiders own 0.62% of the company’s stock.

Synopsys Stock Down 7.1 %

SNPS opened at $388.13 on Monday. The firm has a market capitalization of $60.01 billion, a P/E ratio of 26.73, a P/E/G ratio of 3.23 and a beta of 1.23. The firm’s 50 day moving average is $473.83 and its 200-day moving average is $503.14. Synopsys, Inc. has a 52-week low of $358.15 and a 52-week high of $624.80.

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.