Stonebrook Private Inc. Purchases Shares of 727 Synopsys, Inc. (NASDAQ:SNPS)

Stonebrook Private Inc. bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 727 shares of the semiconductor company's stock, valued at approximately $353,000.

A number of other large investors also recently modified their holdings of the stock. Norges Bank bought a new position in Synopsys in the 4th quarter valued at $583,608,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Synopsys by 21.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after acquiring an additional 1,045,326 shares during the period. Capital Research Global Investors bought a new position in Synopsys in the fourth quarter valued at about $239,864,000. Raymond James Financial Inc. bought a new position in Synopsys in the fourth quarter valued at about $199,065,000. Finally, Ameriprise Financial Inc. increased its position in Synopsys by 26.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after purchasing an additional 391,681 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of research reports. 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. KeyCorp upped their price objective on Synopsys from $555.00 to $575.00 and gave the company an "overweight" rating in a report on Tuesday. Bank of America reduced their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Piper Sandler decreased their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Finally, Wells Fargo & Company cut their price target 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. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $614.86.

Synopsys Price Performance

SNPS stock traded down $0.40 during trading hours on Tuesday, reaching $515.61. 740,736 shares of the stock were exchanged, compared to its average volume of 1,107,856. The firm's 50-day moving average is $447.85 and its 200-day moving average is $489.13. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80. The company has a market cap of $79.72 billion, a price-to-earnings ratio of 35.51, a PEG 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.