Dynamic Technology Lab Private Ltd Purchases New Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Dynamic Technology Lab Private Ltd acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,533 shares of the semiconductor company’s stock, valued at approximately $1,229,000.

Several other large investors have also recently made changes to their positions in SNPS. Benjamin Edwards Inc. increased its holdings in Synopsys by 458.9% during the third quarter. Benjamin Edwards Inc. now owns 598 shares of the semiconductor company’s stock worth $303,000 after buying an additional 491 shares during the last quarter. IHT Wealth Management LLC increased its stake in shares of Synopsys by 39.1% during the 3rd quarter. IHT Wealth Management LLC now owns 858 shares of the semiconductor company’s stock worth $433,000 after purchasing an additional 241 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after purchasing an additional 257,526 shares during the period. EP Wealth Advisors LLC lifted its stake in Synopsys by 36.6% in the third quarter. EP Wealth Advisors LLC now owns 2,041 shares of the semiconductor company’s stock valued at $1,033,000 after purchasing an additional 547 shares during the last quarter. Finally, iA Global Asset Management Inc. grew its holdings in Synopsys by 5.5% during the third quarter. iA Global Asset Management Inc. now owns 36,709 shares of the semiconductor company’s stock valued at $18,589,000 after purchasing an additional 1,914 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on 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 directly owns 1,460 shares in the company, valued at $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 47,909 shares of company stock worth $22,794,835 in the last ninety days. 0.62% of the stock is currently owned by insiders.

Synopsys Stock Performance

Synopsys stock opened at $388.13 on Friday. Synopsys, Inc. has a fifty-two week low of $387.41 and a fifty-two week high of $624.80. The stock has a market cap of $60.01 billion, a P/E ratio of 26.73, a PEG ratio of 3.23 and a beta of 1.23. The firm’s fifty day moving average price is $473.83 and its 200-day moving average price is $503.09.

Analyst Ratings Changes

SNPS has been the topic of several research reports. 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. Wells Fargo & Company dropped their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Morgan Stanley reduced their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Rosenblatt Securities restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Piper Sandler reduced their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

About Synopsys

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.