DSM Capital Partners LLC Purchases 2,790 Shares of Synopsys, Inc. (NASDAQ:SNPS)

DSM Capital Partners LLC increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 122,163 shares of the semiconductor company’s stock after purchasing an additional 2,790 shares during the period. Synopsys accounts for approximately 0.9% of DSM Capital Partners LLC’s holdings, making the stock its 23rd largest position. DSM Capital Partners LLC owned about 0.08% of Synopsys worth $59,293,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp boosted its stake in shares of Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after acquiring an additional 119,057 shares during the period. Geode Capital Management LLC lifted its holdings in Synopsys by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after purchasing an additional 61,799 shares during the last quarter. Edgewood Management LLC boosted its position in Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after purchasing an additional 487,025 shares during the period. Van ECK Associates Corp increased its holdings in shares of Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after purchasing an additional 335,993 shares during the last quarter. Finally, Parnassus Investments LLC bought a new position in shares of Synopsys in the third quarter valued at about $633,469,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Up 0.5 %

Shares of Synopsys stock opened at $525.00 on Wednesday. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The company has a market capitalization of $81.15 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 3.42 and a beta of 1.12. The firm’s 50-day moving average price is $511.06 and its two-hundred day moving average price is $517.59.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Loop Capital started coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Robert W. Baird lowered their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, December 5th. Finally, Piper Sandler lowered their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and a consensus target price of $641.82.

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.