M & L Capital Management Ltd Takes $21.62 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

M & L Capital Management Ltd purchased a new position in Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 44,550 shares of the semiconductor company’s stock, valued at approximately $21,623,000. Synopsys comprises 5.3% of M & L Capital Management Ltd’s investment portfolio, making the stock its 6th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parnassus Investments LLC acquired a new position in shares of Synopsys during the third quarter valued at $633,469,000. Edgewood Management LLC grew its position in Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after purchasing an additional 487,025 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $199,065,000. Proficio Capital Partners LLC boosted its position in shares of Synopsys by 71,578.5% during the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock worth $187,517,000 after buying an additional 385,808 shares during the period. Finally, Impax Asset Management Group plc grew its holdings in Synopsys by 120.2% in the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after buying an additional 267,836 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction on 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 owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wells Fargo & Company cut their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Robert W. Baird cut their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Morgan Stanley dropped their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Trading Up 4.1 %

NASDAQ SNPS opened at $446.23 on Friday. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The stock’s 50-day moving average price is $495.89 and its two-hundred day moving average price is $508.41. The company has a market cap of $69.00 billion, a PE ratio of 30.73, a PEG ratio of 3.23 and a beta of 1.16.

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.