54,490 Shares in Synopsys, Inc. (NASDAQ:SNPS) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 54,490 shares of the semiconductor company’s stock, valued at approximately $26,447,000.

Other large investors also recently modified their holdings of the company. Peloton Wealth Strategists lifted its holdings in shares of Synopsys by 221.2% during the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after purchasing an additional 1,984 shares in the last quarter. Nordea Investment Management AB lifted its stake in Synopsys by 15.9% in the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after buying an additional 143,284 shares in the last quarter. James Hambro & Partners LLP boosted its holdings in shares of Synopsys by 30.9% in the fourth quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock valued at $97,725,000 after buying an additional 47,527 shares during the period. Orion Portfolio Solutions LLC increased its position in shares of Synopsys by 53.2% during the third quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company’s stock worth $13,304,000 after acquiring an additional 9,124 shares in the last quarter. Finally, Synovus Financial Corp raised its holdings in shares of Synopsys by 199.2% during the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock worth $7,627,000 after acquiring an additional 10,028 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive now 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. Over the last three months, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

Synopsys Trading Down 0.3 %

NASDAQ SNPS opened at $448.60 on Friday. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80. The stock has a 50 day moving average of $491.19 and a 200-day moving average of $506.23. The company has a market cap of $69.36 billion, a PE ratio of 30.90, a PEG ratio of 3.23 and a beta of 1.16.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Piper Sandler reduced their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Redburn Atlantic assumed coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Morgan Stanley cut their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. One investment 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

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.