Generali Asset Management SPA SGR Purchases New Stake in Synopsys, Inc. (NASDAQ:SNPS)

Generali Asset Management SPA SGR acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 10,691 shares of the semiconductor company’s stock, valued at approximately $5,189,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp grew its position in Synopsys by 1.7% during the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after purchasing an additional 119,057 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 61,799 shares during the period. Edgewood Management LLC grew its holdings in shares of Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after acquiring an additional 487,025 shares in the last quarter. Parnassus Investments LLC acquired a new position in shares of Synopsys in the third quarter worth $633,469,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Synopsys by 7.7% during the third quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company’s stock worth $577,289,000 after acquiring an additional 81,198 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 1.2 %

NASDAQ:SNPS opened at $447.99 on Wednesday. The firm has a market capitalization of $69.27 billion, a PE ratio of 30.85, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The firm’s fifty day simple moving average is $494.15 and its 200 day simple moving average is $507.35.

Insider Buying and Selling at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of the company’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 completion of the transaction, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’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 sale, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock worth $22,794,835 over the last ninety days. Company insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SNPS. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. 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. Finally, Wells Fargo & Company cut their price target 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. 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $638.58.

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.