Nomura Asset Management Co. Ltd. Acquires 2,526 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Nomura Asset Management Co. Ltd. grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 58,615 shares of the semiconductor company’s stock after purchasing an additional 2,526 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Synopsys were worth $28,449,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction on 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 sale, the insider now owns 116,671 shares of the company’s stock, valued at $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. Insiders have sold 47,909 shares of company stock valued at $22,794,835 in the last 90 days. Company insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SNPS. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Morgan Stanley dropped their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Piper Sandler decreased their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company dropped their price target 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. Finally, Robert W. Baird decreased their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. One 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, Synopsys currently has an average rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Stock Down 1.9 %

SNPS stock opened at $437.95 on Friday. Synopsys, Inc. has a twelve month low of $425.73 and a twelve month high of $624.80. The firm has a market cap of $67.72 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 3.23 and a beta of 1.16. The business’s fifty day simple moving average is $485.62 and its two-hundred day simple moving average is $505.55.

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.