Janus Henderson Group PLC Buys 150,782 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Janus Henderson Group PLC lifted its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,290,669 shares of the semiconductor company's stock after acquiring an additional 150,782 shares during the quarter. Janus Henderson Group PLC owned 0.83% of Synopsys worth $626,377,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Kieckhefer Group LLC bought a new position in shares of Synopsys during the 4th quarter valued at $27,000. Whipplewood Advisors LLC bought a new position in Synopsys in the fourth quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Synopsys in the fourth quarter worth about $34,000. Sierra Ocean LLC purchased a new stake in shares of Synopsys during the 4th quarter valued at about $39,000. Finally, Hazlett Burt & Watson Inc. lifted 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 worth $44,000 after purchasing an additional 20 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 15,705 shares of the 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 transaction, the insider now directly owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm'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 value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares of the company's stock, valued at $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 corporate insiders.

Synopsys Price Performance

Synopsys stock opened at $482.69 on Friday. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The firm's 50 day moving average price is $437.18 and its 200-day moving average price is $489.07. The stock has a market cap of $74.63 billion, a P/E ratio of 33.24, a PEG ratio of 3.23 and a beta of 1.16.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Bank of America reduced their target price on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating for the company 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 on the stock in a report on Thursday, February 27th. Stifel Nicolaus set a $550.00 price target on Synopsys in a report on Monday, April 28th. Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Synopsys has a consensus rating of "Moderate Buy" and an average price target of $613.43.

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.

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