Intact Investment Management Inc. Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Intact Investment Management Inc. grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 66.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,900 shares of the semiconductor company’s stock after purchasing an additional 760 shares during the period. Intact Investment Management Inc.’s holdings in Synopsys were worth $922,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in SNPS. Parnassus Investments LLC acquired a new position in shares of Synopsys during the 3rd quarter worth $633,469,000. Edgewood Management LLC raised its stake in Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after purchasing an additional 487,025 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Synopsys in the 4th quarter valued at about $199,065,000. Proficio Capital Partners LLC raised its stake in Synopsys by 71,578.5% in the 4th 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. Finally, Wellington Management Group LLP raised its stake in Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after purchasing an additional 257,526 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Trading Up 4.1 %

Shares of Synopsys stock opened at $446.23 on Friday. The stock has a 50-day moving average price of $495.89 and a 200 day moving average price of $508.31. The company has a market cap of $69.00 billion, a P/E ratio of 30.73, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SNPS. Robert W. Baird dropped their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Needham & Company LLC reiterated a “buy” rating and set a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Rosenblatt Securities restated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Finally, Morgan Stanley decreased their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $638.58.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction dated 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 directly owns 70,922 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,909 shares of company stock valued at $22,794,835. Corporate insiders own 0.62% of the company’s stock.

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.