Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 39.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,317 shares of the semiconductor company’s stock after purchasing an additional 944 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Synopsys were worth $1,610,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SNPS. GSA Capital Partners LLP bought a new position in shares of Synopsys during the third quarter valued at approximately $467,000. OneDigital Investment Advisors LLC grew its holdings in shares of Synopsys by 28.7% during the third quarter. OneDigital Investment Advisors LLC now owns 2,581 shares of the semiconductor company’s stock valued at $1,307,000 after purchasing an additional 575 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Synopsys by 13.2% during the third quarter. Empowered Funds LLC now owns 7,254 shares of the semiconductor company’s stock valued at $3,673,000 after purchasing an additional 844 shares during the last quarter. Quest Partners LLC bought a new position in shares of Synopsys during the third quarter valued at approximately $1,788,000. Finally, Pathstone Holdings LLC grew its holdings in shares of Synopsys by 6.9% during the third quarter. Pathstone Holdings LLC now owns 19,078 shares of the semiconductor company’s stock valued at $9,661,000 after purchasing an additional 1,225 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SNPS shares. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Piper Sandler decreased 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. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the 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 completion of the sale, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction on Thursday, March 6th. The shares were 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. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,909 shares of company stock worth $22,794,835. Insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $447.99 on Wednesday. Synopsys, Inc. has a one year low of $425.73 and a one year high of $624.80. The stock has a fifty day moving average of $494.15 and a 200-day moving average of $507.35. The company has a market capitalization of $69.27 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

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.