Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Siemens Fonds Invest GmbH

Siemens Fonds Invest GmbH increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 17.2% during the 4th quarter, HoldingsChannel reports. The fund owned 8,795 shares of the semiconductor company’s stock after acquiring an additional 1,288 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Synopsys were worth $4,269,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $583,608,000. Price T Rowe Associates Inc. MD raised its position in Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock valued at $2,864,933,000 after purchasing an additional 1,045,326 shares during the period. Capital Research Global Investors acquired a new position in shares of Synopsys in the 4th quarter valued at $239,864,000. Raymond James Financial Inc. purchased a new position in shares of Synopsys during the 4th quarter worth $199,065,000. Finally, Ameriprise Financial Inc. increased its position in shares of Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock worth $916,441,000 after purchasing an additional 391,681 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research report on Monday, April 28th. Mizuho dropped their target price on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Piper Sandler decreased their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. KeyCorp lowered their price target on Synopsys from $690.00 to $555.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Finally, Bank of America cut their price objective on Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $613.43.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This represents a 11.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’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 owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Synopsys Price Performance

SNPS stock opened at $514.48 on Friday. The business’s 50-day moving average is $442.76 and its two-hundred day moving average is $489.56. The firm has a market capitalization of $79.55 billion, a P/E ratio of 35.43, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80.

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.