17,415 Shares in Synopsys, Inc. (NASDAQ:SNPS) Purchased by Woodline Partners LP

Woodline Partners LP acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 17,415 shares of the semiconductor company's stock, valued at approximately $8,453,000.

Several other large investors also recently bought and sold shares of SNPS. James Hambro & Partners LLP grew its position in shares of Synopsys by 30.9% during the fourth quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company's stock worth $97,725,000 after buying an additional 47,527 shares in the last quarter. Fiera Capital Corp grew its position in shares of Synopsys by 33.8% during the fourth quarter. Fiera Capital Corp now owns 196,391 shares of the semiconductor company's stock worth $95,320,000 after buying an additional 49,653 shares in the last quarter. Bancreek Capital Management LP bought a new position in Synopsys during the fourth quarter worth $3,827,000. Meridiem Investment Management Ltd. lifted its stake in Synopsys by 13.1% during the fourth quarter. Meridiem Investment Management Ltd. now owns 557,174 shares of the semiconductor company's stock worth $270,322,000 after purchasing an additional 64,322 shares during the last quarter. Finally, Symphony Financial Ltd. Co. lifted its stake in Synopsys by 156.4% during the fourth quarter. Symphony Financial Ltd. Co. now owns 1,059 shares of the semiconductor company's stock worth $569,000 after purchasing an additional 646 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Stock Performance

Shares of SNPS stock traded down $7.02 during midday trading on Wednesday, reaching $504.78. 675,437 shares of the company were exchanged, compared to its average volume of 1,104,342. 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 $78.05 billion, a P/E ratio of 34.75, a PEG ratio of 3.23 and a beta of 1.16. The company's 50 day moving average price is $453.18 and its two-hundred day moving average price is $487.60.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business's 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 sale, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of the business'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 completion of the sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SNPS. Stifel Nicolaus set a $550.00 target price on Synopsys in a research note on Monday, April 28th. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Finally, Wells Fargo & Company cut their target price on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Synopsys presently has an average rating of "Moderate Buy" and an average target price of $614.86.

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.