Algebris UK Ltd Invests $597,000 in Synopsys, Inc. (NASDAQ:SNPS)

Algebris UK Ltd acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,273 shares of the semiconductor company’s stock, valued at approximately $597,000.

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

Insider Transactions at Synopsys

In related news, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were 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 in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred 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 completion of the sale, 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. Insiders sold a total of 47,909 shares of company stock worth $22,794,835 over the last ninety days. 0.62% of the stock is currently owned by corporate insiders.

Synopsys Trading Down 1.2 %

Synopsys stock opened at $447.99 on Wednesday. The stock has a market cap of $69.27 billion, a PE ratio of 30.85, a P/E/G ratio of 3.23 and a beta of 1.16. The stock has a 50-day moving average price of $494.15 and a 200 day moving average price of $507.35. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SNPS shares. Piper Sandler lowered their price target 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. Redburn Atlantic started coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. Wells Fargo & Company reduced their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and an average target price of $638.58.

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.