Banque de Luxembourg S.A. Invests $6.24 Million in Synopsys, Inc. (NASDAQ:SNPS)

Banque de Luxembourg S.A. acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,798 shares of the semiconductor company's stock, valued at approximately $6,237,000. Synopsys makes up approximately 3.3% of Banque de Luxembourg S.A.'s holdings, making the stock its 11th largest position.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Synopsys in the fourth quarter valued at about $583,608,000. Price T Rowe Associates Inc. MD lifted its stake in Synopsys by 21.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after acquiring an additional 1,045,326 shares in the last quarter. Capital Research Global Investors bought a new position in shares of Synopsys in the fourth quarter valued at approximately $239,864,000. Raymond James Financial Inc. purchased a new stake in Synopsys during the fourth quarter worth about $199,065,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after buying an additional 391,681 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of the 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business's 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 of the company's stock, valued at approximately $32,890,077.50. The trade was a 13.81 % 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.

Synopsys Stock Up 2.8 %

NASDAQ SNPS opened at $472.28 on Friday. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. 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. The company has a fifty day moving average of $434.61 and a two-hundred day moving average of $489.85.

Wall Street Analyst Weigh In

SNPS has been the topic of several analyst reports. Piper Sandler decreased their price target on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Mizuho decreased their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company dropped their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Finally, Bank of America cut their price target 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 issued 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 price target of $613.43.

Synopsys Company 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.

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