Nuveen Asset Management LLC Boosts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Nuveen Asset Management LLC grew its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,691,501 shares of the semiconductor company's stock after buying an additional 182,115 shares during the period. Nuveen Asset Management LLC owned 1.09% of Synopsys worth $820,987,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SNPS. Kieckhefer Group LLC acquired a new position in shares of Synopsys in the 4th quarter valued at $27,000. Whipplewood Advisors LLC acquired a new position in shares of Synopsys in the 4th quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Synopsys in the 4th quarter valued at $34,000. Sierra Ocean LLC acquired a new position in shares of Synopsys in the 4th quarter valued at $39,000. Finally, Hazlett Burt & Watson Inc. increased its position 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 acquiring an additional 20 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Down 0.0%

Shares of NASDAQ:SNPS traded down $0.05 during trading on Friday, reaching $514.43. 946,601 shares of the company's stock traded hands, compared to its average volume of 1,105,723. The company has a 50-day simple moving average of $444.44 and a 200-day simple moving average of $489.46. The firm has a market cap of $79.54 billion, a PE ratio of 35.43, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80.

Analyst Upgrades and Downgrades

Several brokerages have commented on SNPS. KeyCorp decreased their price objective on shares of Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Rosenblatt Securities restated a "buy" rating and set a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Piper Sandler decreased their price objective on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Finally, Morgan Stanley decreased their price objective on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $613.43.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction on Thursday, March 6th. The shares were 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 in the company, valued at approximately $51,850,925.82. This represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction on Monday, March 3rd. The stock was 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 $32,890,077.50. This represents a 13.81% decrease in their ownership of the stock. 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.