DnB Asset Management AS Has $22.87 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

DnB Asset Management AS grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 9.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,127 shares of the semiconductor company’s stock after buying an additional 4,003 shares during the quarter. DnB Asset Management AS’s holdings in Synopsys were worth $22,874,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kieckhefer Group LLC bought a new stake in shares of Synopsys in the fourth quarter valued at $27,000. Whipplewood Advisors LLC bought a new stake in Synopsys in the 4th quarter valued at about $33,000. Sierra Ocean LLC purchased a new position in shares of Synopsys in the fourth quarter worth about $39,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Synopsys in the fourth quarter valued at approximately $51,000. Finally, Versant Capital Management Inc lifted its stake in shares of Synopsys by 109.3% during the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 59 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Performance

Shares of Synopsys stock opened at $437.95 on Friday. Synopsys, Inc. has a fifty-two week low of $425.73 and a fifty-two week high of $624.80. The company has a fifty day moving average of $485.62 and a 200 day moving average of $505.27. The company has a market capitalization of $67.72 billion, a P/E ratio of 30.16, a P/E/G ratio of 3.23 and a beta of 1.16.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of analyst reports. Wells Fargo & Company cut 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 report on Thursday, February 27th. Redburn Atlantic started coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Piper Sandler dropped their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Synopsys has an average rating of “Moderate Buy” and an average target price of $638.58.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on 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 owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction that occurred 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 directly 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 disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock valued at $22,794,835 over the last 90 days. 0.62% of the stock is owned by corporate insiders.

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.