Concentric Capital Strategies LP Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Concentric Capital Strategies LP bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,429 shares of the semiconductor company's stock, valued at approximately $4,576,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNPS. World Investment Advisors LLC bought a new position in shares of Synopsys in the third quarter worth $253,000. B. Riley Wealth Advisors Inc. raised its position in shares of Synopsys by 27.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 863 shares of the semiconductor company's stock valued at $434,000 after buying an additional 186 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Synopsys by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 247,966 shares of the semiconductor company's stock worth $125,568,000 after acquiring an additional 2,655 shares during the period. Diversified Trust Co boosted its position in shares of Synopsys by 9.3% during the 4th quarter. Diversified Trust Co now owns 3,275 shares of the semiconductor company's stock worth $1,590,000 after acquiring an additional 278 shares in the last quarter. Finally, Westwind Capital raised its position in Synopsys by 0.5% during the fourth quarter. Westwind Capital now owns 21,709 shares of the semiconductor company's stock valued at $10,537,000 after purchasing an additional 116 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction on Monday, March 3rd. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The stock was 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 of the company's stock, valued at $51,850,925.82. This represents 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 company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on SNPS. Morgan Stanley decreased their price target on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Needham & Company LLC reissued a "buy" rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 price target on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Piper Sandler cut their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $613.43.

Synopsys Trading Down 0.8 %

NASDAQ SNPS opened at $473.55 on Wednesday. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80. The firm has a market capitalization of $73.22 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The business's 50-day moving average price is $435.13 and its two-hundred day moving average price is $489.43.

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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