Premier Fund Managers Ltd Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

Premier Fund Managers Ltd grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 40.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,988 shares of the semiconductor company’s stock after purchasing an additional 6,671 shares during the period. Premier Fund Managers Ltd’s holdings in Synopsys were worth $11,193,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caprock Group LLC increased its position in shares of Synopsys by 0.5% in the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after purchasing an additional 20 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its holdings in shares of Synopsys by 1.1% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock valued at $898,000 after purchasing an additional 20 shares in the last quarter. Edge Capital Group LLC boosted its stake in shares of Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock valued at $791,000 after buying an additional 20 shares during the period. Barden Capital Management Inc. grew its position in Synopsys by 1.1% in the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock worth $889,000 after acquiring an additional 20 shares in the last quarter. Finally, Resurgent Financial Advisors LLC lifted its position in shares of Synopsys by 2.8% in the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock worth $410,000 after buying an additional 22 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on SNPS shares. Wells Fargo & Company dropped their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Robert W. Baird cut their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Piper Sandler reduced their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Finally, Morgan Stanley lowered their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Trading Down 0.8 %

Synopsys stock opened at $446.23 on Friday. The company has a fifty day simple moving average of $487.40 and a 200 day simple moving average of $505.45. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80. The company has a market cap of $69.00 billion, a P/E ratio of 30.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Insider Activity

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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the business’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 sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is owned by insiders.

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.