Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 20.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,239 shares of the semiconductor company’s stock after purchasing an additional 1,223 shares during the period. Sequoia Financial Advisors LLC’s holdings in Synopsys were worth $3,514,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. State Street Corp grew its holdings in Synopsys by 1.7% in the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after purchasing an additional 119,057 shares during the last quarter. Geode Capital Management LLC grew its holdings in Synopsys by 1.9% in the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after purchasing an additional 61,799 shares during the last quarter. Edgewood Management LLC grew its holdings in Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after purchasing an additional 487,025 shares during the last quarter. Parnassus Investments LLC acquired a new stake in Synopsys in the third quarter valued at $633,469,000. Finally, Janus Henderson Group PLC grew its holdings in Synopsys by 7.7% in the third quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company’s stock valued at $577,289,000 after purchasing an additional 81,198 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on SNPS shares. Morgan Stanley decreased their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Piper Sandler decreased their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Finally, Redburn Atlantic started 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. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Price Performance

Synopsys stock opened at $428.58 on Friday. The stock’s 50-day moving average is $496.84 and its 200-day moving average is $508.96. The company has a market cap of $66.27 billion, a price-to-earnings ratio of 29.52, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80.

Insider Transactions at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This trade represents a 13.81 % 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 worth $22,794,835 in the last three months. 0.62% of the stock is currently owned by company insiders.

Synopsys Company 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.