Synopsys, Inc. (NASDAQ:SNPS) Stock Position Raised by Northern Trust Corp

Northern Trust Corp raised its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 14.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,639,587 shares of the semiconductor company's stock after acquiring an additional 209,031 shares during the quarter. Northern Trust Corp owned approximately 1.06% of Synopsys worth $795,790,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. 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 stake in Synopsys in the 4th quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Synopsys in the 4th quarter valued at about $34,000. Sierra Ocean LLC acquired a new stake in shares of Synopsys during the 4th quarter worth about $39,000. Finally, Hazlett Burt & Watson Inc. grew its stake in 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 acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Activity at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the business'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 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 disclosure for this sale can be found here. Company insiders own 0.62% of the company's stock.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded up $0.35 during midday trading on Thursday, hitting $459.36. 1,136,968 shares of the company's stock traded hands, compared to its average volume of 1,095,037. The company has a market cap of $71.03 billion, a PE ratio of 31.64, a P/E/G ratio of 3.23 and a beta of 1.23. The firm's fifty day moving average price is $434.54 and its two-hundred day moving average price is $490.84. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80.

Analyst Ratings Changes

Several analysts have commented on SNPS shares. KeyCorp lowered their target price 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. Morgan Stanley lowered 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. Rosenblatt Securities reissued a "buy" rating and set a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Piper Sandler lowered 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, Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research note on Monday. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $613.43.

About Synopsys

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.