Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by PGGM Investments

PGGM Investments lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1,612.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,122 shares of the semiconductor company’s stock after purchasing an additional 20,830 shares during the period. PGGM Investments’ holdings in Synopsys were worth $10,737,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Impax Asset Management Group plc lifted its stake in Synopsys by 120.2% during the third 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 in the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Synopsys by 32.5% during the third quarter. Verdence Capital Advisors LLC now owns 567 shares of the semiconductor company’s stock valued at $287,000 after acquiring an additional 139 shares during the period. Nations Financial Group Inc. IA ADV lifted its position in shares of Synopsys by 4.3% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 1,121 shares of the semiconductor company’s stock valued at $568,000 after acquiring an additional 46 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in Synopsys by 5.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 4,505 shares of the semiconductor company’s stock worth $2,281,000 after purchasing an additional 214 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Synopsys in the 3rd quarter worth approximately $467,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNPS has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Piper Sandler reduced 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. 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, Needham & Company LLC restated a “buy” rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Stock Up 0.4 %

NASDAQ SNPS opened at $432.46 on Thursday. The company has a 50 day moving average price of $497.92 and a two-hundred day moving average price of $509.52. Synopsys, Inc. has a 12-month low of $427.30 and a 12-month high of $624.80. The stock has a market capitalization of $66.87 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys 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 in the company, 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. Over the last three months, insiders sold 47,909 shares of company stock worth $22,794,835. Corporate 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.