Capital World Investors Acquires 114,893 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Capital World Investors raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,280,182 shares of the semiconductor company’s stock after buying an additional 114,893 shares during the period. Capital World Investors owned 4.71% of Synopsys worth $3,533,526,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Synopsys by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after purchasing an additional 120,575 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Synopsys by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock valued at $1,625,230,000 after buying an additional 75,298 shares in the last quarter. Pictet Asset Management Holding SA raised its position in Synopsys by 3.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,758,759 shares of the semiconductor company’s stock worth $853,631,000 after acquiring an additional 60,121 shares in the last quarter. Invesco Ltd. grew its position in shares of Synopsys by 5.2% in the 4th quarter. Invesco Ltd. now owns 1,381,496 shares of the semiconductor company’s stock valued at $670,523,000 after acquiring an additional 68,766 shares during the period. Finally, Norges Bank bought a new stake in shares of Synopsys in the 4th quarter valued at about $583,608,000. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Performance

NASDAQ SNPS opened at $413.32 on Friday. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80. The stock has a market cap of $63.91 billion, a PE ratio of 28.47, a PEG ratio of 3.23 and a beta of 1.23. The firm’s fifty day moving average price is $446.35 and its two-hundred day moving average price is $495.11.

Insiders Place Their Bets

In other news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The shares were 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 in the company, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated 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. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Morgan Stanley decreased their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Wells Fargo & Company dropped their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Bank of America cut their price target on Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, KeyCorp lowered their price objective on Synopsys from $690.00 to $555.00 and set an “overweight” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $618.31.

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.