Ameriprise Financial Inc. raised its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 26.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,888,181 shares of the semiconductor company's stock after acquiring an additional 391,681 shares during the quarter. Ameriprise Financial Inc. owned about 1.22% of Synopsys worth $916,441,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new stake in shares of Synopsys in the 4th quarter valued at $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Synopsys in the fourth quarter worth about $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Synopsys during the 4th quarter worth about $34,000. Sierra Ocean LLC acquired a new position in shares of Synopsys during the 4th quarter valued at about $39,000. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 20 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Synopsys
In other Synopsys 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 transaction 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 $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction 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 transaction, the insider now directly owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. The trade was a 11.86 % 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.
Wall Street Analyst Weigh In
SNPS has been the topic of several analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Mizuho lowered their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Rosenblatt Securities reissued a "buy" rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. KeyCorp lowered their price target on Synopsys from $690.00 to $555.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, Redburn Atlantic assumed coverage on Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 price objective for the company. One equities research 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 a consensus target price of $613.43.
Get Our Latest Analysis on SNPS
Synopsys Trading Up 2.8 %
Shares of NASDAQ SNPS opened at $472.28 on Friday. The firm has a market capitalization of $73.02 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The business has a fifty day simple moving average of $434.61 and a 200 day simple moving average of $489.85.
About Synopsys
(
Free Report)
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.
Further Reading
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