BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 15.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,416 shares of the semiconductor company's stock after purchasing an additional 3,850 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Synopsys were worth $14,277,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Focus Partners Advisor Solutions LLC boosted its position in shares of Synopsys by 44.4% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 755 shares of the semiconductor company's stock valued at $366,000 after buying an additional 232 shares during the period. Continuum Advisory LLC lifted its stake in shares of Synopsys by 2.4% during the 4th quarter. Continuum Advisory LLC now owns 1,068 shares of the semiconductor company's stock worth $518,000 after acquiring an additional 25 shares during the last quarter. White Knight Strategic Wealth Advisors LLC purchased a new position in Synopsys during the 4th quarter valued at $485,000. Waverly Advisors LLC grew its position in Synopsys by 447.6% in the 4th quarter. Waverly Advisors LLC now owns 4,310 shares of the semiconductor company's stock valued at $2,092,000 after acquiring an additional 3,523 shares during the last quarter. Finally, Whelan Financial purchased a new stake in Synopsys in the fourth quarter worth $292,000. Institutional investors own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SNPS. Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Stifel Nicolaus set a $550.00 target price on Synopsys in a report on Monday, April 28th. Bank of America cut their price target on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. KeyCorp set a $575.00 price objective on Synopsys and gave the company an "overweight" rating in a report on Tuesday, May 20th. Finally, Mizuho cut their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $614.86.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred 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 approximately $32,890,077.50. This trade represents a 13.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction that occurred 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 sale, the insider now directly owns 116,671 shares in the company, 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 owned by corporate insiders.

Synopsys Stock Performance

NASDAQ:SNPS traded up $11.92 during mid-day trading on Tuesday, hitting $510.77. 239,404 shares of the company's stock traded hands, compared to its average volume of 1,101,905. The company has a fifty day moving average of $451.94 and a 200 day moving average of $487.43. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80. The company has a market capitalization of $78.98 billion, a P/E ratio of 35.11, a P/E/G ratio of 3.23 and a beta of 1.16.

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.