Pinebridge Investments L.P. Boosts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Pinebridge Investments L.P. boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 12.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,379 shares of the semiconductor company’s stock after purchasing an additional 9,972 shares during the quarter. Pinebridge Investments L.P.’s holdings in Synopsys were worth $44,837,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Nordea Investment Management AB raised its position in shares of Synopsys by 15.9% during the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after buying an additional 143,284 shares in the last quarter. James Hambro & Partners LLP lifted its stake in shares of Synopsys by 30.9% in the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock valued at $97,725,000 after purchasing an additional 47,527 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Synopsys by 199.2% in the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock valued at $7,627,000 after purchasing an additional 10,028 shares during the last quarter. Janney Capital Management LLC purchased a new position in shares of Synopsys in the 4th quarter worth approximately $6,082,000. Finally, Artemis Investment Management LLP increased its position in shares of Synopsys by 4.5% during the 4th quarter. Artemis Investment Management LLP now owns 24,878 shares of the semiconductor company’s stock valued at $12,075,000 after purchasing an additional 1,081 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In related news, 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated 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 transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the subject of several recent analyst reports. Wells Fargo & Company dropped their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Redburn Atlantic began coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Bank of America dropped their target price on Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus price target of $618.31.

Synopsys Stock Up 2.7 %

Shares of NASDAQ:SNPS opened at $413.40 on Wednesday. The business’s 50 day moving average is $441.91 and its 200 day moving average is $493.85. The stock has a market cap of $63.92 billion, a P/E ratio of 28.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week 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.