Sumitomo Mitsui DS Asset Management Company Ltd Has $20.92 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,091 shares of the semiconductor company’s stock after purchasing an additional 706 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Synopsys were worth $20,915,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp boosted its position in Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after buying an additional 119,057 shares during the last quarter. Geode Capital Management LLC boosted its position in Synopsys by 1.9% in 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 buying an additional 61,799 shares during the last quarter. Edgewood Management LLC boosted its position in Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after buying an additional 487,025 shares during the last quarter. Van ECK Associates Corp boosted its position in Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after buying an additional 335,993 shares during the last quarter. Finally, Parnassus Investments LLC bought a new position in Synopsys in the 3rd quarter valued at $633,469,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Price Performance

SNPS opened at $533.18 on Friday. The business’s 50-day moving average price is $514.44 and its two-hundred day moving average price is $519.45. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The company has a market capitalization of $82.42 billion, a price-to-earnings ratio of 36.72, a P/E/G ratio of 3.44 and a beta of 1.12.

Analyst Ratings Changes

A number of research analysts have commented on the company. Robert W. Baird decreased their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Redburn Atlantic initiated coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. Mizuho initiated coverage on Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys 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. Based on data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and a consensus target price of $641.82.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 sale, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.66% of the company’s stock.

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.