Shell Asset Management Co. Raises Position in Synopsys, Inc. (NASDAQ:SNPS)

Shell Asset Management Co. grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 74.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,552 shares of the semiconductor company’s stock after acquiring an additional 1,087 shares during the period. Shell Asset Management Co.’s holdings in Synopsys were worth $1,239,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys in the fourth quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Synopsys in the fourth quarter valued at about $34,000. Sierra Ocean LLC purchased a new stake in shares of Synopsys in the fourth quarter valued at about $39,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 20 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Synopsys by 50.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $514.43 on Friday. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The company has a market capitalization of $79.54 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The firm’s 50-day moving average is $444.44 and its two-hundred day moving average is $489.13.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. KeyCorp reduced their price target on shares of Synopsys from $690.00 to $555.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a research report on Monday, April 28th. Morgan Stanley reduced their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Finally, 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. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $613.43.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 70,922 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This represents a 11.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

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.