Cary Street Partners Financial LLC Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Cary Street Partners Financial LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,285 shares of the semiconductor company's stock, valued at approximately $4,507,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bain Capital Public Equity LP boosted its holdings in shares of Synopsys by 11.9% during the 4th quarter. Bain Capital Public Equity LP now owns 6,305 shares of the semiconductor company's stock valued at $3,060,000 after acquiring an additional 670 shares in the last quarter. Baird Financial Group Inc. raised its holdings in Synopsys by 24.6% during the 4th quarter. Baird Financial Group Inc. now owns 9,048 shares of the semiconductor company's stock worth $4,392,000 after purchasing an additional 1,787 shares during the last quarter. Banque Transatlantique SA acquired a new position in Synopsys in the fourth quarter valued at $138,503,000. Banque de Luxembourg S.A. bought a new stake in shares of Synopsys during the 4th quarter valued at about $6,237,000. Finally, BNP Paribas grew its position in shares of Synopsys by 54.4% during the 4th quarter. BNP Paribas now owns 32,010 shares of the semiconductor company's stock worth $15,537,000 after buying an additional 11,274 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on SNPS shares. Wells Fargo & Company decreased their target price 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. Mizuho reduced their price objective on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Stifel Nicolaus set a $550.00 target price on Synopsys in a research note on Monday, April 28th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $613.43.

Synopsys Trading Up 0.9 %

Shares of SNPS stock traded up $4.31 on Thursday, hitting $484.85. 1,011,685 shares of the stock were exchanged, compared to its average volume of 1,099,841. The firm's 50 day moving average is $436.44 and its two-hundred day moving average is $489.23. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The firm has a market capitalization of $74.97 billion, a PE ratio of 33.39, a P/E/G ratio of 3.23 and a beta of 1.16.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of Synopsys 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 transaction, the insider now directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by corporate insiders.

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.