Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by ING Groep NV

ING Groep NV raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 320.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,708 shares of the semiconductor company’s stock after acquiring an additional 29,493 shares during the quarter. ING Groep NV’s holdings in Synopsys were worth $18,787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SNPS. Parnassus Investments LLC purchased a new position in shares of Synopsys during the 3rd quarter valued at approximately $633,469,000. Edgewood Management LLC boosted its stake 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 buying an additional 487,025 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after buying an additional 335,993 shares during the last quarter. Impax Asset Management Group plc boosted its stake in shares of Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after buying an additional 267,836 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Synopsys by 32.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after buying an additional 257,526 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNPS has been the topic of several research analyst reports. Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Robert W. Baird reduced their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Piper Sandler reduced their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Wells Fargo & Company reduced their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Stock Performance

SNPS stock opened at $493.97 on Friday. The stock has a market capitalization of $76.36 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 3.28 and a beta of 1.12. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The stock’s fifty day moving average is $511.23 and its two-hundred day moving average is $517.61.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was 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. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Synopsys 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.