Union Bancaire Privee UBP SA Purchases New Shares in Synopsys, Inc. (NASDAQ:SNPS)

Union Bancaire Privee UBP SA acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 36,096 shares of the semiconductor company’s stock, valued at approximately $17,162,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SNPS. State Street Corp grew its position in Synopsys by 1.7% during the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after buying an additional 119,057 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Synopsys by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after acquiring an additional 61,799 shares during the period. Edgewood Management LLC grew its holdings in shares of Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after purchasing an additional 487,025 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after purchasing an additional 335,993 shares during the period. Finally, Parnassus Investments LLC acquired a new position in Synopsys in the third quarter valued at about $633,469,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of Synopsys stock opened at $546.19 on Monday. The business has a 50-day simple moving average of $518.68 and a 200 day simple moving average of $523.59. The firm has a market capitalization of $84.43 billion, a price-to-earnings ratio of 37.62, a PEG ratio of 3.57 and a beta of 1.12. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38.

Analysts Set New Price Targets

SNPS has been the topic of a number of analyst reports. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Piper Sandler reduced their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Robert W. Baird dropped their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Finally, Mizuho initiated coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on 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 owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by company 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.