Bridgewater Associates LP acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 34,236 shares of the semiconductor company's stock, valued at approximately $16,617,000.
Other large investors have also recently modified their holdings of the company. Kieckhefer Group LLC purchased a new position in Synopsys in the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC purchased a new position in shares of Synopsys in the fourth quarter worth $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Synopsys during the 4th quarter valued at $34,000. Sierra Ocean LLC purchased a new stake in Synopsys during the 4th quarter valued at $39,000. Finally, Hazlett Burt & Watson Inc. grew its holdings in Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.
Insider Buying and Selling
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 sale, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at approximately $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 is accessible through this link. Also, insider Geus Aart De sold 15,705 shares of the firm's 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 owns 116,671 shares of the company's stock, valued at $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. 0.62% of the stock is currently owned by company insiders.
Synopsys Stock Down 2.9 %
Shares of NASDAQ SNPS traded down $12.11 on Monday, reaching $401.21. 186,183 shares of the company's stock traded hands, compared to its average volume of 1,087,841. The business's 50 day simple moving average is $446.35 and its two-hundred day simple moving average is $495.09. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80. The company has a market cap of $62.03 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23.
Analyst Ratings Changes
A number of analysts have recently weighed in on SNPS shares. Piper Sandler dropped their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Bank of America cut their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Finally, Mizuho decreased their price objective on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Synopsys currently has a consensus rating of "Moderate Buy" and a consensus target price of $618.31.
Check Out Our Latest Report on SNPS
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.
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