Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Jackson Square Partners LLC

Jackson Square Partners LLC lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 26,252.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,176 shares of the semiconductor company’s stock after buying an additional 13,126 shares during the quarter. Jackson Square Partners LLC’s holdings in Synopsys were worth $6,562,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SNPS. Raymond James Financial Inc. acquired a new position in Synopsys in the 4th quarter valued at $199,065,000. Proficio Capital Partners LLC increased its stake in Synopsys by 71,578.5% in the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after purchasing an additional 385,808 shares during the last quarter. Wellington Management Group LLP lifted its position in Synopsys by 32.5% during the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after buying an additional 257,526 shares during the period. Alecta Tjanstepension Omsesidigt acquired a new stake in Synopsys in the 4th quarter worth about $104,741,000. Finally, American Century Companies Inc. boosted its stake in Synopsys by 38.7% in the 4th quarter. American Century Companies Inc. now owns 571,474 shares of the semiconductor company’s stock worth $277,371,000 after buying an additional 159,344 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SNPS. Morgan Stanley decreased 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. Piper Sandler decreased their price target 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. Wells Fargo & Company cut their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Finally, Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and an average price target of $638.58.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the firm’s 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 owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 47,909 shares of company stock valued at $22,794,835. Corporate insiders own 0.62% of the company’s stock.

Synopsys Stock Up 2.0 %

Shares of NASDAQ:SNPS opened at $457.77 on Tuesday. The company has a market capitalization of $70.78 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The company has a 50 day moving average of $490.60 and a two-hundred day moving average of $506.31. Synopsys, Inc. has a 52-week low of $425.73 and a 52-week 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.