TIG Advisors LLC Makes New $2.59 Million Investment in Synopsys, Inc. (NASDAQ:SNPS)

TIG Advisors LLC purchased a new position in Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 5,331 shares of the semiconductor company’s stock, valued at approximately $2,587,000.

A number of other institutional investors have also bought and sold shares of the company. Kieckhefer Group LLC acquired a new position in Synopsys in the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC acquired a new position in Synopsys during the 4th quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Synopsys during the fourth quarter worth $34,000. Sierra Ocean LLC bought a new stake in shares of Synopsys in the 4th quarter worth $39,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings 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 purchasing an additional 20 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Activity

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 value of $5,270,982.50. Following the sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, 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 SEC, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 116,671 shares in the company, 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 owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on SNPS. Stifel Nicolaus set a $550.00 price target on Synopsys in a research report on Monday. Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. Piper Sandler reduced their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Finally, Wells Fargo & Company reduced 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. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus price target of $613.43.

Synopsys Trading Down 0.6 %

Synopsys stock opened at $443.97 on Tuesday. The firm has a market capitalization of $68.65 billion, a price-to-earnings ratio of 30.58, a P/E/G ratio of 3.23 and a beta of 1.23. The firm has a 50 day simple moving average of $435.52 and a 200 day simple moving average of $491.27. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year 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.