Sone Capital Management LLC Invests $17.12 Million in Synopsys, Inc. (NASDAQ:SNPS)

Sone Capital Management LLC purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 35,264 shares of the semiconductor company's stock, valued at approximately $17,116,000. Synopsys makes up 2.2% of Sone Capital Management LLC's holdings, making the stock its 9th largest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. Merit Financial Group LLC increased its stake in shares of Synopsys by 2,308.7% in the fourth quarter. Merit Financial Group LLC now owns 15,006 shares of the semiconductor company's stock valued at $7,283,000 after buying an additional 14,383 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Synopsys by 2.0% in the fourth quarter. HB Wealth Management LLC now owns 3,172 shares of the semiconductor company's stock valued at $1,540,000 after buying an additional 63 shares in the last quarter. Smith Salley Wealth Management lifted its position in shares of Synopsys by 8.1% during the fourth quarter. Smith Salley Wealth Management now owns 2,569 shares of the semiconductor company's stock worth $1,247,000 after purchasing an additional 193 shares in the last quarter. Moss Adams Wealth Advisors LLC acquired a new position in shares of Synopsys during the fourth quarter worth approximately $246,000. Finally, Bowman & Co S.C. acquired a new position in shares of Synopsys during the fourth quarter worth approximately $334,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNPS. Piper Sandler reduced 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. Bank of America reduced their target price on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Needham & Company LLC reiterated a "buy" rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Wells Fargo & Company reduced their target price on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Finally, Mizuho lowered their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Synopsys has an average rating of "Moderate Buy" and a consensus price target of $614.86.

Synopsys Price Performance

Shares of SNPS stock traded down $4.63 during trading hours on Friday, reaching $498.85. The company had a trading volume of 670,031 shares, compared to its average volume of 1,103,769. The company has a 50 day moving average of $450.97 and a 200 day moving average of $488.91. The firm has a market cap of $77.13 billion, a price-to-earnings ratio of 34.36, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80.

Insider Activity

In other news, insider Geus Aart De sold 15,705 shares of the 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 $51,850,925.82. This represents a 11.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, 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 disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

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.