Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 3.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,758,759 shares of the semiconductor company’s stock after acquiring an additional 60,121 shares during the period. Synopsys comprises 0.9% of Pictet Asset Management Holding SA’s portfolio, making the stock its 17th biggest holding. Pictet Asset Management Holding SA’s holdings in Synopsys were worth $853,631,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SNPS. Norges Bank acquired a new stake in Synopsys during the fourth quarter valued at approximately $583,608,000. Raymond James Financial Inc. bought a new position in shares of Synopsys in the fourth quarter valued at $199,065,000. Proficio Capital Partners LLC lifted its position in shares of Synopsys by 71,578.5% during the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after acquiring an additional 385,808 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Synopsys by 32.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after acquiring an additional 257,526 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new stake in shares of Synopsys during the fourth quarter worth $104,741,000. Institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Redburn Atlantic began coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Morgan Stanley decreased 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. Robert W. Baird cut their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, Wells Fargo & Company decreased their target price 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. 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Insider Buying and Selling at Synopsys

In related news, insider Geus Aart De sold 15,705 shares of the business’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 sale, the insider now owns 116,671 shares of the company’s stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock worth $22,794,835 over the last ninety days. Company insiders own 0.62% of the company’s stock.

Synopsys Stock Down 0.8 %

Shares of Synopsys stock opened at $446.23 on Friday. Synopsys, Inc. has a 12-month low of $425.73 and a 12-month high of $624.80. The stock 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. The stock has a 50 day moving average price of $487.40 and a two-hundred day moving average price of $505.45.

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.