Bell Asset Management Ltd Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Bell Asset Management Ltd bought a new position in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, HoldingsChannel reports. The firm bought 9,786 shares of the semiconductor company’s stock, valued at approximately $4,750,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Polymer Capital Management US LLC purchased a new position in shares of Synopsys during the fourth quarter valued at approximately $4,623,000. Himension Capital Singapore PTE. LTD. lifted its position in shares of Synopsys by 50.7% during the fourth quarter. Himension Capital Singapore PTE. LTD. now owns 27,909 shares of the semiconductor company’s stock worth $13,546,000 after purchasing an additional 9,394 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co boosted its stake in shares of Synopsys by 42.4% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 53,746 shares of the semiconductor company’s stock valued at $26,086,000 after purchasing an additional 16,000 shares during the period. Aviva PLC grew its holdings in shares of Synopsys by 6.5% in the fourth quarter. Aviva PLC now owns 92,509 shares of the semiconductor company’s stock worth $44,900,000 after purchasing an additional 5,663 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Synopsys in the 4th quarter worth about $1,229,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 7.1 %

Shares of SNPS stock opened at $388.13 on Monday. The company has a market cap of $60.01 billion, a PE ratio of 26.73, a PEG ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 12-month low of $358.15 and a 12-month high of $624.80. The business’s fifty day simple moving average is $473.83 and its 200-day simple moving average is $503.14.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SNPS shares. Needham & Company LLC restated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Wells Fargo & Company reduced their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Piper Sandler lowered their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Morgan Stanley dropped their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by insiders.

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.