Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Sycomore Asset Management

Sycomore Asset Management grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 48.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 21,054 shares of the semiconductor company’s stock after acquiring an additional 6,917 shares during the quarter. Synopsys makes up approximately 1.4% of Sycomore Asset Management’s investment portfolio, making the stock its 23rd biggest position. Sycomore Asset Management’s holdings in Synopsys were worth $10,851,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. State Street Corp lifted its position in Synopsys by 1.7% during the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after buying an additional 119,057 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Synopsys by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after acquiring an additional 61,799 shares during the period. Edgewood Management LLC raised its stake in shares of Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after acquiring an additional 487,025 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after acquiring an additional 335,993 shares in the last quarter. Finally, Parnassus Investments LLC purchased a new stake in Synopsys during the 3rd quarter worth $633,469,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS stock opened at $525.82 on Monday. The stock has a market capitalization of $81.28 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The company’s 50-day simple moving average is $513.49 and its 200-day simple moving average is $518.64.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’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 transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of recent research reports. Loop Capital began coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Piper Sandler reduced their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Wells Fargo & Company lowered their price objective on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Finally, Berenberg Bank initiated coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $641.82.

About Synopsys

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.