Machina Capital S.A.S. Purchases New Position in Synopsys, Inc. (NASDAQ:SNPS)

Machina Capital S.A.S. purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 444 shares of the semiconductor company’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kieckhefer Group LLC purchased a new position in shares of Synopsys in the 4th quarter valued at about $27,000. Whipplewood Advisors LLC purchased a new position in shares of Synopsys in the 4th quarter valued at about $33,000. Sierra Ocean LLC purchased a new position in shares of Synopsys in the 4th quarter valued at about $39,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Synopsys in the 4th quarter valued at about $51,000. Finally, Versant Capital Management Inc increased its stake in shares of Synopsys by 109.3% in the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

SNPS opened at $450.88 on Monday. Synopsys, Inc. has a one year low of $429.77 and a one year high of $624.80. The stock has a market capitalization of $69.72 billion, a PE ratio of 31.05, a P/E/G ratio of 3.23 and a beta of 1.16. The business’s 50 day moving average price is $501.21 and its 200 day moving average price is $511.66.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Robert W. Baird cut their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Needham & Company LLC reiterated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Wells Fargo & Company cut their price objective on 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, Piper Sandler cut 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. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

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.