Gallacher Capital Management LLC Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Gallacher Capital Management LLC increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 10.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 467 shares of the semiconductor company’s stock after buying an additional 44 shares during the quarter. Gallacher Capital Management LLC’s holdings in Synopsys were worth $227,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,909 shares of company stock worth $22,794,835. Insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS stock opened at $446.23 on Monday. The stock’s fifty day moving average is $495.89 and its two-hundred day moving average is $508.30. 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 capitalization of $69.00 billion, a P/E ratio of 30.73, a PEG ratio of 3.23 and a beta of 1.16.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Morgan Stanley dropped their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Wells Fargo & Company reduced their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Robert W. Baird reduced their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

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.