Ethic Inc. Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Ethic Inc. grew its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 42.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,610 shares of the semiconductor company's stock after acquiring an additional 4,982 shares during the quarter. Ethic Inc.'s holdings in Synopsys were worth $8,062,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. FORA Capital LLC purchased a new stake in Synopsys during the fourth quarter valued at approximately $247,000. Deutsche Bank AG lifted its holdings in shares of Synopsys by 6.8% during the 4th quarter. Deutsche Bank AG now owns 807,355 shares of the semiconductor company's stock valued at $391,858,000 after purchasing an additional 51,733 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Synopsys by 3.4% during the 4th quarter. EP Wealth Advisors LLC now owns 2,111 shares of the semiconductor company's stock valued at $1,025,000 after purchasing an additional 70 shares during the last quarter. Concentric Capital Strategies LP acquired a new stake in shares of Synopsys in the 4th quarter worth $4,576,000. Finally, Cetera Investment Advisers grew its stake in Synopsys by 3.7% during the 4th quarter. Cetera Investment Advisers now owns 28,548 shares of the semiconductor company's stock worth $13,856,000 after buying an additional 1,018 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the company'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 completion of the transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated 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 sale, the insider now owns 116,671 shares in the company, valued at approximately $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 currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SNPS shares. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Bank of America cut their price objective 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. 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 report on Thursday, February 27th. Mizuho dropped their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company decreased their price target on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Synopsys currently has a consensus rating of "Moderate Buy" and a consensus price target of $613.43.

Synopsys Stock Up 4.7%

Shares of SNPS stock traded up $22.69 during mid-day trading on Monday, hitting $505.59. 1,099,699 shares of the stock were exchanged, compared to its average volume of 1,102,535. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The company has a market cap of $78.17 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The firm has a fifty day moving average of $438.34 and a 200 day moving average of $489.05.

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.