Geode Capital Management LLC Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Geode Capital Management LLC grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,357,165 shares of the semiconductor company’s stock after buying an additional 75,298 shares during the period. Geode Capital Management LLC owned approximately 2.17% of Synopsys worth $1,625,230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. AG lifted its position in Synopsys by 6.3% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 97,680 shares of the semiconductor company’s stock valued at $47,419,000 after acquiring an additional 5,773 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in shares of Synopsys by 14.7% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 25,863 shares of the semiconductor company’s stock worth $12,553,000 after purchasing an additional 3,321 shares during the last quarter. AIA Group Ltd lifted its holdings in shares of Synopsys by 15.2% during the fourth quarter. AIA Group Ltd now owns 13,186 shares of the semiconductor company’s stock valued at $6,400,000 after purchasing an additional 1,737 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its position 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 valued at $44,000 after buying an additional 20 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Synopsys by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 1,057,760 shares of the semiconductor company’s stock worth $513,394,000 after buying an additional 9,051 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SNPS shares. Piper Sandler dropped their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Needham & Company LLC reiterated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Finally, Robert W. Baird reduced their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Insider Activity at Synopsys

In other news, 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 sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the transaction, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by corporate insiders.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $435.94 on Wednesday. The company has a market capitalization of $67.41 billion, a P/E ratio of 30.02, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1-year low of $423.08 and a 1-year high of $624.80. The firm’s 50 day simple moving average is $481.79 and its two-hundred day simple moving average is $504.91.

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.