Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 10.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 257,128 shares of the semiconductor company’s stock after buying an additional 24,346 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.17% of Synopsys worth $126,947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SNPS. Financial Counselors Inc. boosted its position in shares of Synopsys by 6.1% in the fourth quarter. Financial Counselors Inc. now owns 32,489 shares of the semiconductor company’s stock worth $15,769,000 after acquiring an additional 1,872 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Synopsys by 6.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 101,963 shares of the semiconductor company’s stock worth $49,489,000 after purchasing an additional 5,773 shares during the period. Jackson Square Partners LLC boosted its holdings in shares of Synopsys by 26,252.0% in the 4th quarter. Jackson Square Partners LLC now owns 13,176 shares of the semiconductor company’s stock valued at $6,562,000 after purchasing an additional 13,126 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Synopsys by 1.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,202 shares of the semiconductor company’s stock valued at $7,378,000 after buying an additional 225 shares during the period. Finally, Zions Bancorporation N.A. increased its holdings in shares of Synopsys by 7.1% during the 4th quarter. Zions Bancorporation N.A. now owns 469 shares of the semiconductor company’s stock worth $228,000 after buying an additional 31 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Price Performance

Shares of Synopsys stock opened at $446.23 on Friday. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80. The company has a market capitalization of $69.00 billion, a PE ratio of 30.73, a P/E/G ratio of 3.23 and a beta of 1.16. The business has a 50-day moving average of $487.40 and a 200-day moving average of $505.45.

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 dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock worth $22,794,835 in the last 90 days. 0.62% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SNPS. Piper Sandler lowered their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Robert W. Baird dropped their target price 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. Morgan Stanley reduced their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company reduced 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. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $638.58.

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.