North Star Asset Management Inc. Purchases 1,598 Shares of Synopsys, Inc. (NASDAQ:SNPS)

North Star Asset Management Inc. grew its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,188 shares of the semiconductor company's stock after buying an additional 1,598 shares during the period. Synopsys accounts for about 1.3% of North Star Asset Management Inc.'s holdings, making the stock its 23rd biggest holding. North Star Asset Management Inc.'s holdings in Synopsys were worth $28,242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Whipplewood Advisors LLC acquired a new stake in Synopsys during the fourth quarter worth approximately $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Synopsys during the fourth quarter worth approximately $34,000. Sierra Ocean LLC acquired a new stake in Synopsys during the fourth quarter worth approximately $39,000. Hazlett Burt & Watson Inc. grew its stake in Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 20 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in Synopsys by 50.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock worth $48,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SNPS. Stifel Nicolaus set a $550.00 target price on Synopsys in a research note on Monday, April 28th. Piper Sandler decreased their price objective on 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 decreased their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Rosenblatt Securities restated a "buy" rating and set a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Finally, Needham & Company LLC restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $614.86.

Synopsys Trading Up 2.6%

Shares of NASDAQ:SNPS traded up $12.94 during mid-day trading on Tuesday, hitting $511.79. 1,251,833 shares of the company traded hands, compared to its average volume of 1,105,874. The stock has a market cap of $79.13 billion, a P/E ratio of 35.25, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The stock has a 50-day moving average price of $451.94 and a two-hundred day moving average price of $487.43.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction on Thursday, March 6th. The stock was 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 approximately $51,850,925.82. The trade was 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 in the company, valued at approximately $32,890,077.50. This represents a 13.81% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

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.