Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Princeton Capital Management LLC

Princeton Capital Management LLC raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 25.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,075 shares of the semiconductor company’s stock after acquiring an additional 221 shares during the period. Princeton Capital Management LLC’s holdings in Synopsys were worth $522,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SNPS. Napean Trading & Investment Co Singapore PTE Ltd increased its stake in shares of Synopsys by 7.6% during the fourth quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 30,687 shares of the semiconductor company’s stock worth $14,894,000 after acquiring an additional 2,176 shares during the period. Congress Wealth Management LLC DE increased its position in Synopsys by 0.5% during the 4th quarter. Congress Wealth Management LLC DE now owns 37,161 shares of the semiconductor company’s stock worth $18,037,000 after purchasing an additional 192 shares during the period. Vanguard Group Inc. raised its stake in shares of Synopsys by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock worth $7,029,360,000 after buying an additional 120,575 shares in the last quarter. Stevens Capital Management LP lifted its holdings in shares of Synopsys by 6.3% in the 4th quarter. Stevens Capital Management LP now owns 503 shares of the semiconductor company’s stock valued at $244,000 after buying an additional 30 shares during the period. Finally, LPL Financial LLC boosted its stake in shares of Synopsys by 33.6% in the fourth quarter. LPL Financial LLC now owns 129,967 shares of the semiconductor company’s stock valued at $63,081,000 after buying an additional 32,699 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were 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 approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

Synopsys Stock Up 2.0 %

Shares of SNPS opened at $457.77 on Tuesday. The company’s fifty day moving average is $490.60 and its two-hundred day moving average is $506.31. Synopsys, Inc. has a fifty-two week low of $425.73 and a fifty-two week high of $624.80. The firm has a market cap of $70.78 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Analysts Set New Price Targets

A number of research firms have commented on SNPS. Redburn Atlantic initiated coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Piper Sandler reduced their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Morgan Stanley lowered their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. 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. Finally, Robert W. Baird lowered their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

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.