Paloma Partners Management Co Acquires New Position in Synopsys, Inc. (NASDAQ:SNPS)

Paloma Partners Management Co acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,500 shares of the semiconductor company’s stock, valued at approximately $1,213,000.

A number of other hedge funds have also recently modified their holdings of SNPS. Kieckhefer Group LLC purchased a new position in Synopsys during the fourth quarter worth about $27,000. Whipplewood Advisors LLC purchased a new position in Synopsys during the fourth quarter worth about $33,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Synopsys during the fourth quarter worth about $34,000. Sierra Ocean LLC purchased a new position in Synopsys during the fourth quarter worth about $39,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, March 3rd. The shares were 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 Securities & Exchange Commission, which is accessible through this link. 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 sale, the insider now owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SNPS shares. Morgan Stanley lowered their target price 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. Bank of America lowered their price objective on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Redburn Atlantic began 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. Wells Fargo & Company lowered 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. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $613.43.

Synopsys Price Performance

NASDAQ SNPS opened at $443.97 on Tuesday. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The company has a market capitalization of $68.65 billion, a PE ratio of 30.58, a P/E/G ratio of 3.23 and a beta of 1.23. The company has a fifty day moving average of $435.52 and a two-hundred day moving average of $491.27.

About Synopsys

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.