1248 Management LLC Invests $1.35 Million in Synopsys, Inc. (NASDAQ:SNPS)

1248 Management LLC bought a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,786 shares of the semiconductor company's stock, valued at approximately $1,352,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new position in Synopsys during the fourth quarter worth $27,000. Whipplewood Advisors LLC acquired a new stake in Synopsys in the fourth quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Synopsys in the 4th quarter valued at about $34,000. Sierra Ocean LLC acquired a new position in shares of Synopsys during the 4th quarter worth about $39,000. Finally, Hazlett Burt & Watson Inc. increased its stake in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 85.47% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on SNPS shares. KeyCorp reduced their price target on Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Redburn Atlantic assumed coverage on Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 target price on the stock. Piper Sandler cut their price target on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Finally, Bank of America cut their target price on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $613.43.

Synopsys Price Performance

SNPS traded up $5.13 on Monday, hitting $477.41. 1,074,568 shares of the stock were exchanged, compared to its average volume of 1,096,741. The firm has a market capitalization of $73.82 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80. The business has a 50-day moving average of $434.61 and a two-hundred day moving average of $489.75.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 116,671 shares of the company's stock, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

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.