2,786 Shares in Synopsys, Inc. (NASDAQ:SNPS) Acquired by 1248 Management LLC

1248 Management LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 2,786 shares of the semiconductor company’s stock, valued at approximately $1,352,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Synopsys during the 4th quarter valued at approximately $583,608,000. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 valued at $2,864,933,000 after purchasing an additional 1,045,326 shares in the last quarter. Capital Research Global Investors bought a new stake in Synopsys in the fourth quarter worth $239,864,000. Raymond James Financial Inc. purchased a new stake in Synopsys during the fourth quarter valued at $199,065,000. Finally, Proficio Capital Partners LLC lifted its position in Synopsys by 71,578.5% during the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after purchasing an additional 385,808 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS stock opened at $459.36 on Friday. The company has a market capitalization of $71.03 billion, a P/E ratio of 31.64, a P/E/G ratio of 3.23 and a beta of 1.23. The company’s 50-day simple moving average is $434.33 and its two-hundred day simple moving average is $490.25. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80.

Analyst Ratings Changes

Several analysts have recently issued reports on SNPS shares. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research report on Monday. Piper Sandler lowered their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. KeyCorp dropped their target price on Synopsys from $690.00 to $555.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Rosenblatt Securities restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Finally, Bank of America dropped 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. One 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, the company has an average rating of “Moderate Buy” and a consensus target price of $613.43.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction 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. This represents a 13.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 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. 0.62% of the stock is owned by insiders.

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.