Bancreek Capital Management LP Invests $3.83 Million in Synopsys, Inc. (NASDAQ:SNPS)

Bancreek Capital Management LP purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,885 shares of the semiconductor company’s stock, valued at approximately $3,827,000. Synopsys comprises approximately 3.7% of Bancreek Capital Management LP’s investment portfolio, making the stock its 15th largest holding.

Other hedge funds have also bought and sold shares of the company. Kieckhefer Group LLC bought a new position in Synopsys during the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC bought a new position in shares of Synopsys in the 4th quarter worth about $33,000. Sierra Ocean LLC acquired a new position in shares of Synopsys in the 4th quarter valued at about $39,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Synopsys during the 4th quarter valued at about $51,000. Finally, Versant Capital Management Inc raised its stake in Synopsys by 109.3% during the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 59 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 value of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now owns 116,671 shares of the company’s stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock valued at $22,794,835 over the last three months. Company insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on SNPS. Wells Fargo & Company decreased their target price 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. Robert W. Baird lowered 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 reaffirmed a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. 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 report on Thursday, February 27th. Finally, Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Synopsys has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Price Performance

NASDAQ SNPS opened at $448.60 on Friday. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80. The firm has a market capitalization of $69.36 billion, a PE ratio of 30.90, a P/E/G ratio of 3.23 and a beta of 1.16. The company’s 50 day simple moving average is $491.19 and its 200 day simple moving average is $506.06.

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.