Skandinaviska Enskilda Banken AB publ Has $47.67 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Skandinaviska Enskilda Banken AB publ grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,929 shares of the semiconductor company’s stock after buying an additional 2,536 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Synopsys were worth $47,669,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SNPS. State Street Corp raised its holdings in 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 purchasing an additional 119,057 shares during the last quarter. Geode Capital Management LLC raised its stake in Synopsys by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after buying an additional 61,799 shares during the last quarter. Edgewood Management LLC raised its stake 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 buying an additional 487,025 shares during the last quarter. Parnassus Investments LLC bought a new position in Synopsys during the third quarter worth $633,469,000. Finally, Janus Henderson Group PLC lifted its holdings in Synopsys by 7.7% in the third quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company’s stock valued at $577,289,000 after buying an additional 81,198 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Synopsys Price Performance

NASDAQ:SNPS opened at $432.46 on Thursday. Synopsys, Inc. has a one year low of $427.30 and a one year high of $624.80. The company has a market cap of $66.87 billion, a PE ratio of 29.78, a PEG ratio of 3.23 and a beta of 1.16. The firm has a 50-day moving average of $497.92 and a 200-day moving average of $509.52.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SNPS. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Piper Sandler dropped their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley reduced their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Finally, Robert W. Baird dropped their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 11,366 shares of the company’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. This represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction 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 completion of the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,909 shares of company stock valued at $22,794,835. Corporate insiders own 0.62% of the company’s stock.

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.