AGF Management Ltd. Lowers Position in Synopsys, Inc. (NASDAQ:SNPS)

AGF Management Ltd. reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 7.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 219,143 shares of the semiconductor company’s stock after selling 16,832 shares during the quarter. AGF Management Ltd.’s holdings in Synopsys were worth $106,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Peloton Wealth Strategists boosted its position in shares of Synopsys by 221.2% during the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after acquiring an additional 1,984 shares during the last quarter. Swiss National Bank lifted its position in Synopsys by 0.7% during the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after purchasing an additional 3,200 shares during the last quarter. Parnassus Investments LLC purchased a new position in Synopsys in the 3rd quarter worth approximately $633,469,000. Nordea Investment Management AB increased its holdings in shares of Synopsys by 15.9% in the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after buying an additional 143,284 shares during the last quarter. Finally, James Hambro & Partners LLP raised its position in shares of Synopsys by 30.9% during the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock valued at $97,725,000 after buying an additional 47,527 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock valued at $22,794,835 over the last ninety days. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SNPS shares. Piper Sandler reduced their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. 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. Loop Capital started coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Rosenblatt Securities restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company lowered their price objective 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Price Performance

Synopsys stock opened at $429.85 on Tuesday. The business has a 50 day simple moving average of $500.07 and a 200-day simple moving average of $510.83. The stock has a market capitalization of $66.46 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12 month low of $427.30 and a 12 month high of $624.80.

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.