Neuberger Berman Group LLC Increases Position in Synopsys, Inc. (NASDAQ:SNPS)

Neuberger Berman Group LLC lifted its position in Synopsys, Inc. (NASDAQ:SNPS) by 19.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 498,674 shares of the semiconductor company’s stock after purchasing an additional 82,220 shares during the period. Neuberger Berman Group LLC owned 0.32% of Synopsys worth $242,036,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Caprock Group LLC raised its position in shares of Synopsys by 0.5% during the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after buying an additional 20 shares in the last quarter. Compagnie Lombard Odier SCmA raised its holdings in shares of Synopsys by 1.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after purchasing an additional 20 shares in the last quarter. Edge Capital Group LLC increased its position in shares of Synopsys by 1.2% in the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock worth $791,000 after acquiring an additional 20 shares in the last quarter. Barden Capital Management Inc. grew its position in Synopsys by 1.1% during the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock valued at $889,000 after purchasing an additional 20 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its position in Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 20 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Trading Up 12.3 %

Shares of SNPS opened at $428.70 on Thursday. The stock has a 50-day moving average price of $461.83 and a 200-day moving average price of $499.45. The company has a market cap of $66.29 billion, a PE ratio of 29.52, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Rosenblatt Securities restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Needham & Company LLC restated a “buy” rating and set a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Morgan Stanley decreased their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Finally, Piper Sandler decreased their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. One research 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Insiders Place Their Bets

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was 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 of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 70,922 shares in the company, 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 have sold 47,909 shares of company stock valued at $22,794,835 in the last ninety days. Company 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.