Synopsys, Inc. (NASDAQ:SNPS) Stock Position Boosted by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 15.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,102 shares of the semiconductor company’s stock after buying an additional 151 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Synopsys were worth $573,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNPS. State Street Corp increased its stake in shares of Synopsys by 1.7% during the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after acquiring an additional 119,057 shares during the period. Geode Capital Management LLC boosted its stake in Synopsys by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after purchasing an additional 61,799 shares in the last quarter. Edgewood Management LLC increased its position in shares of Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after purchasing an additional 487,025 shares during the period. Parnassus Investments LLC bought a new stake in shares of Synopsys in the 3rd quarter worth $633,469,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Synopsys by 7.7% in the third quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company’s stock valued at $577,289,000 after buying an additional 81,198 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Robert W. Baird lowered their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Loop Capital assumed coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Piper Sandler reduced their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Finally, Morgan Stanley dropped their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Synopsys has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.62% of the stock is owned by corporate insiders.

Synopsys Trading Down 3.1 %

Shares of SNPS stock opened at $443.26 on Tuesday. The stock’s fifty day simple moving average is $505.15 and its 200-day simple moving average is $514.75. The company has a market capitalization of $68.54 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a 1-year low of $442.29 and a 1-year high of $624.80.

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.