D1 Capital Partners L.P. Invests $122.80 Million in Synopsys, Inc. (NASDAQ:SNPS)

D1 Capital Partners L.P. purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 253,000 shares of the semiconductor company’s stock, valued at approximately $122,796,000. Synopsys comprises about 2.0% of D1 Capital Partners L.P.’s investment portfolio, making the stock its 18th biggest holding. D1 Capital Partners L.P. owned about 0.16% of Synopsys at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Synopsys by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after buying an additional 120,575 shares during the period. Capital World Investors boosted its holdings in Synopsys by 1.6% in the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company’s stock valued at $3,533,526,000 after acquiring an additional 114,893 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock worth $2,864,933,000 after purchasing an additional 1,045,326 shares during the period. Geode Capital Management LLC raised its holdings in Synopsys by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock worth $1,625,230,000 after purchasing an additional 75,298 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in Synopsys by 3.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,758,759 shares of the semiconductor company’s stock valued at $853,631,000 after purchasing an additional 60,121 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the 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 transaction, the chief executive officer now owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Synopsys Stock Performance

NASDAQ SNPS opened at $422.23 on Thursday. The stock has a market cap of $65.29 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 3.23 and a beta of 1.23. The business has a 50 day simple moving average of $439.90 and a 200 day simple moving average of $493.36. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Mizuho lowered their target price on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company dropped their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Morgan Stanley dropped their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $618.31.

Synopsys 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.