Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 176.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 227 shares of the semiconductor company’s stock after acquiring an additional 145 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Synopsys were worth $110,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SNPS. Raymond James Financial Inc. purchased a new position in shares of Synopsys during the 4th quarter worth $199,065,000. Proficio Capital Partners LLC raised its stake in Synopsys by 71,578.5% during the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock worth $187,517,000 after purchasing an additional 385,808 shares during the period. Wellington Management Group LLP lifted its holdings in Synopsys by 32.5% in the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after acquiring an additional 257,526 shares during the last quarter. Alecta Tjanstepension Omsesidigt acquired a new position in shares of Synopsys in the 4th quarter valued at $104,741,000. Finally, American Century Companies Inc. lifted its position in Synopsys by 38.7% in the fourth quarter. American Century Companies Inc. now owns 571,474 shares of the semiconductor company’s stock valued at $277,371,000 after buying an additional 159,344 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SNPS. Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Piper Sandler decreased their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Robert W. Baird cut 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. Finally, Rosenblatt Securities restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $638.58.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’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 transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents a 93.45 % 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 Stock Performance

Shares of SNPS opened at $437.95 on Monday. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The stock has a market capitalization of $67.72 billion, a PE ratio of 30.16, a PEG ratio of 3.23 and a beta of 1.16. The stock has a 50-day simple moving average of $485.62 and a 200-day simple moving average of $505.72.

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.