Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Candriam S.C.A.

Candriam S.C.A. boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 82,125 shares of the semiconductor company’s stock after buying an additional 356 shares during the quarter. Candriam S.C.A.’s holdings in Synopsys were worth $39,860,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Inceptionr LLC purchased a new stake in Synopsys during the fourth quarter valued at about $246,000. Raymond James Financial Inc. purchased a new stake in Synopsys during the fourth quarter valued at about $199,065,000. Dana Investment Advisors Inc. grew its position in Synopsys by 0.8% during the fourth quarter. Dana Investment Advisors Inc. now owns 14,716 shares of the semiconductor company’s stock valued at $7,143,000 after acquiring an additional 124 shares during the period. Cullen Frost Bankers Inc. grew its position in Synopsys by 5.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 15,319 shares of the semiconductor company’s stock valued at $7,435,000 after acquiring an additional 791 shares during the period. Finally, Arizona State Retirement System grew its position in Synopsys by 0.8% during the fourth quarter. Arizona State Retirement System now owns 44,265 shares of the semiconductor company’s stock valued at $21,484,000 after acquiring an additional 342 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on 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 directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now directly owns 1,460 shares of the company’s stock, 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. Insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SNPS shares. Robert W. Baird decreased their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Piper Sandler decreased their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Loop Capital started coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Finally, Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Stock Up 0.6 %

Shares of NASDAQ SNPS opened at $447.96 on Thursday. The stock’s 50 day moving average price is $503.01 and its two-hundred day moving average price is $513.56. The stock has a market capitalization of $69.26 billion, a P/E ratio of 30.85, a PEG ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a 52-week low of $429.77 and a 52-week high of $624.80.

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.