Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 12,643 shares of the semiconductor company’s stock after buying an additional 122 shares during the period. Fisher Asset Management LLC’s holdings in Synopsys were worth $6,137,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of SNPS. Parnassus Investments LLC purchased a new position in Synopsys during the third quarter worth approximately $633,469,000. Edgewood Management LLC raised its stake 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 worth $1,554,540,000 after buying an additional 487,025 shares during the period. Proficio Capital Partners LLC lifted its position in shares of Synopsys by 71,578.5% during the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after buying an additional 385,808 shares in the last quarter. Impax Asset Management Group plc grew its stake in Synopsys by 120.2% in the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after acquiring an additional 267,836 shares during the period. Finally, Wellington Management Group LLP grew its stake in Synopsys by 32.5% in the 3rd 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. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SNPS shares. Wells Fargo & Company decreased their price objective 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. Loop Capital started coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. Robert W. Baird lowered their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a 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 report on Thursday, February 27th. Finally, Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $638.58.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their position. 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 firm’s stock in a transaction that occurred 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 owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Shares of Synopsys stock opened at $445.47 on Wednesday. The business’s 50 day moving average price is $504.06 and its 200 day moving average price is $514.02. The company has a market cap of $68.88 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a one year low of $429.77 and a one year high of $624.80.

Synopsys Company 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.