Sumitomo Mitsui DS Asset Management Company Ltd Has $20.92 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 1.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 43,091 shares of the semiconductor company’s stock after buying an additional 706 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Synopsys were worth $20,915,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kieckhefer Group LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at about $27,000. Tsfg LLC grew its holdings in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the period. Hazlett Burt & Watson Inc. grew its holdings in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares during the period. Princeton Global Asset Management LLC bought a new position in Synopsys during the third quarter worth about $44,000. Finally, nVerses Capital LLC bought a new position in Synopsys during the third quarter worth about $51,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other Synopsys 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 transaction of $10,544,236.38. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company reduced their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Loop Capital initiated coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Rosenblatt Securities restated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. Finally, Berenberg Bank initiated coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Price Performance

Shares of SNPS opened at $533.18 on Friday. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The company has a market cap of $82.42 billion, a P/E ratio of 36.72, a P/E/G ratio of 3.44 and a beta of 1.12. The firm has a 50 day simple moving average of $514.44 and a two-hundred day simple moving average of $519.45.

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.