Dnca Finance Raises Position in Synopsys, Inc. (NASDAQ:SNPS)

Dnca Finance raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 38.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,000 shares of the semiconductor company's stock after purchasing an additional 11,850 shares during the quarter. Synopsys accounts for about 1.6% of Dnca Finance's investment portfolio, making the stock its 17th largest position. Dnca Finance's holdings in Synopsys were worth $20,870,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SNPS. Nordea Investment Management AB boosted its holdings in shares of Synopsys by 15.9% during the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company's stock valued at $509,261,000 after purchasing an additional 143,284 shares during the last quarter. James Hambro & Partners LLP increased its stake in Synopsys by 30.9% in the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company's stock worth $97,725,000 after acquiring an additional 47,527 shares during the last quarter. Synovus Financial Corp raised its holdings in shares of Synopsys by 199.2% during the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock worth $7,627,000 after acquiring an additional 10,028 shares in the last quarter. Janney Capital Management LLC bought a new position in shares of Synopsys during the 4th quarter valued at approximately $6,082,000. Finally, Artemis Investment Management LLP increased its position in Synopsys by 4.5% in the fourth quarter. Artemis Investment Management LLP now owns 24,878 shares of the semiconductor company's stock worth $12,075,000 after purchasing an additional 1,081 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction on Thursday, March 6th. The stock was 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 directly owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 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 disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

Analyst Ratings Changes

SNPS has been the topic of a number of research reports. Bank of America reduced their target price on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company lowered their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Rosenblatt Securities reaffirmed a "buy" rating and set a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Finally, KeyCorp reduced their target price 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. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $618.31.

Synopsys Stock Performance

SNPS traded up $16.38 during trading on Thursday, hitting $438.61. 472,855 shares of the stock were exchanged, compared to its average volume of 1,086,125. The firm has a 50 day simple moving average of $439.90 and a 200 day simple moving average of $493.36. The firm has a market cap of $67.82 billion, a price-to-earnings ratio of 30.16, a P/E/G ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80.

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.