Generali Asset Management SPA SGR Takes $5.19 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Generali Asset Management SPA SGR acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 10,691 shares of the semiconductor company’s stock, valued at approximately $5,189,000.

Other institutional investors also recently made changes to their positions in the company. Horizon Investments LLC boosted its stake in Synopsys by 76.2% during the 4th quarter. Horizon Investments LLC now owns 6,671 shares of the semiconductor company’s stock valued at $3,238,000 after acquiring an additional 2,886 shares during the last quarter. Pitti Group Wealth Management LLC acquired a new stake in shares of Synopsys in the 4th quarter valued at about $218,000. Cibc World Markets Corp lifted its position in shares of Synopsys by 14.4% during the fourth quarter. Cibc World Markets Corp now owns 27,620 shares of the semiconductor company’s stock worth $13,406,000 after purchasing an additional 3,485 shares during the last quarter. GWN Securities Inc. acquired a new position in Synopsys in the fourth quarter worth about $189,000. Finally, Gallacher Capital Management LLC increased its holdings in Synopsys by 10.4% in the fourth quarter. Gallacher Capital Management LLC now owns 467 shares of the semiconductor company’s stock valued at $227,000 after buying an additional 44 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In related news, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now directly owns 116,671 shares in the company, valued at approximately $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 the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’s 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 completion of the transaction, the executive now directly 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. Over the last quarter, insiders sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

Synopsys Price Performance

Shares of SNPS stock opened at $447.99 on Wednesday. Synopsys, Inc. has a 12-month low of $425.73 and a 12-month high of $624.80. The firm has a market capitalization of $69.27 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The business has a 50 day simple moving average of $494.15 and a 200 day simple moving average of $507.35.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Piper Sandler reduced their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley lowered their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Needham & Company LLC restated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Finally, Redburn Atlantic began coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective for the company. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $638.58.

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.