NEOS Investment Management LLC Boosts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

NEOS Investment Management LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 19.2% during the fourth quarter, Holdings Channel reports. The firm owned 15,318 shares of the semiconductor company’s stock after acquiring an additional 2,470 shares during the quarter. NEOS Investment Management LLC’s holdings in Synopsys were worth $7,435,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. UniSuper Management Pty Ltd lifted its stake in Synopsys by 149.5% in the fourth quarter. UniSuper Management Pty Ltd now owns 68,953 shares of the semiconductor company’s stock worth $33,467,000 after acquiring an additional 41,316 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Synopsys by 10.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 257,128 shares of the semiconductor company’s stock worth $126,947,000 after purchasing an additional 24,346 shares in the last quarter. Financial Counselors Inc. lifted its position in shares of Synopsys by 6.1% in the 4th quarter. Financial Counselors Inc. now owns 32,489 shares of the semiconductor company’s stock worth $15,769,000 after purchasing an additional 1,872 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Synopsys by 6.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 101,963 shares of the semiconductor company’s stock worth $49,489,000 after purchasing an additional 5,773 shares during the period. Finally, Jackson Square Partners LLC boosted its stake in shares of Synopsys by 26,252.0% during the 4th quarter. Jackson Square Partners LLC now owns 13,176 shares of the semiconductor company’s stock valued at $6,562,000 after purchasing an additional 13,126 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the 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 sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction 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 transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,909 shares of company stock valued at $22,794,835. Insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Robert W. Baird decreased their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Piper Sandler dropped their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company decreased their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Stock Down 0.8 %

SNPS opened at $446.23 on Friday. The company has a market capitalization of $69.00 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The firm has a 50-day simple moving average of $487.40 and a two-hundred day simple moving average of $505.45. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week 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.