Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 38.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 348,229 shares of the semiconductor company’s stock after acquiring an additional 96,147 shares during the period. Clearbridge Investments LLC’s holdings in Synopsys were worth $169,017,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SNPS. Norges Bank acquired a new stake in shares of Synopsys during the fourth quarter worth $583,608,000. Raymond James Financial Inc. acquired a new stake in Synopsys during the fourth quarter worth about $199,065,000. Proficio Capital Partners LLC lifted its holdings in Synopsys by 71,578.5% in the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock worth $187,517,000 after acquiring an additional 385,808 shares during the last quarter. Wellington Management Group LLP boosted its stake in Synopsys by 32.5% in the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after acquiring an additional 257,526 shares during the period. Finally, Alecta Tjanstepension Omsesidigt bought a new position in shares of Synopsys during the fourth quarter valued at approximately $104,741,000. 85.47% of the stock is currently owned by institutional investors.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now owns 116,671 shares of the company’s stock, valued at $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. In the last 90 days, insiders have sold 47,909 shares of company stock valued at $22,794,835. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $437.95 on Monday. The stock has a market cap of $67.72 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80. The stock’s 50 day moving average price is $485.62 and its 200 day moving average price is $505.72.

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.