Tairen Capital Ltd Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Tairen Capital Ltd acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,000 shares of the semiconductor company's stock, valued at approximately $3,883,000.

Other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in shares of Synopsys in the 4th quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Synopsys in the 4th quarter valued at $34,000. Sierra Ocean LLC bought a new stake in shares of Synopsys in the 4th quarter valued at $39,000. Hazlett Burt & Watson Inc. boosted its stake in shares of Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 20 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Synopsys by 50.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 33 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated 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 sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated 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 completion of the sale, 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. Corporate insiders own 0.62% of the company's stock.

Synopsys Trading Down 0.0%

SNPS opened at $514.43 on Friday. The company's fifty day moving average price is $444.44 and its two-hundred day moving average price is $489.13. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The company has a market cap of $79.54 billion, a price-to-earnings ratio of 35.43, a PEG ratio of 3.23 and a beta of 1.16.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. KeyCorp reduced their price objective on shares of Synopsys from $690.00 to $555.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research note on Monday, April 28th. 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 note on Thursday, February 27th. Morgan Stanley cut their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Synopsys presently has an average rating of "Moderate Buy" and a consensus target price of $613.43.

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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