AIA Group Ltd Boosts Position in Synopsys, Inc. (NASDAQ:SNPS)

AIA Group Ltd increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 15.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,186 shares of the semiconductor company’s stock after purchasing an additional 1,737 shares during the period. AIA Group Ltd’s holdings in Synopsys were worth $6,400,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Kieckhefer Group LLC purchased a new position in shares of Synopsys during the fourth quarter worth about $27,000. Whipplewood Advisors LLC purchased a new position in shares of Synopsys in the 4th quarter valued at approximately $33,000. Sierra Ocean LLC acquired a new position in shares of Synopsys in the fourth quarter valued at approximately $39,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 20 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new position in Synopsys in the 4th quarter valued at $51,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated 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 completion of the sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the 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 transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,909 shares of company stock valued at $22,794,835. Company insiders own 0.62% of the company’s stock.

Synopsys Trading Down 1.9 %

Synopsys stock opened at $437.95 on Monday. The stock has a 50-day moving average price of $485.62 and a 200 day moving average price of $505.72. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80. The stock has a market cap of $67.72 billion, a PE ratio of 30.16, a P/E/G ratio of 3.23 and a beta of 1.16.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Rosenblatt Securities restated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Robert W. Baird lowered their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Morgan Stanley cut their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Piper Sandler dropped their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

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.