Invesco Ltd. Acquires 68,766 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Invesco Ltd. raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.2% during the fourth quarter, HoldingsChannel reports. The firm owned 1,381,496 shares of the semiconductor company’s stock after purchasing an additional 68,766 shares during the period. Invesco Ltd.’s holdings in Synopsys were worth $670,523,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SNPS. Kieckhefer Group LLC bought a new position in shares of Synopsys during the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC purchased a new stake in Synopsys during the fourth quarter worth $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Synopsys during the 4th quarter valued at $34,000. Sierra Ocean LLC purchased a new position in shares of Synopsys in the 4th quarter valued at $39,000. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNPS. Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Morgan Stanley lowered their target price 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. Finally, Piper Sandler dropped their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by corporate insiders.

Synopsys Stock Down 1.9 %

Shares of SNPS stock opened at $380.90 on Tuesday. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The stock has a market cap of $58.89 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. The business has a 50-day simple moving average of $471.23 and a 200-day simple moving average of $502.20.

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.