1,273 Shares in Synopsys, Inc. (NASDAQ:SNPS) Acquired by Algebris UK Ltd

Algebris UK Ltd bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,273 shares of the semiconductor company’s stock, valued at approximately $597,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Parnassus Investments LLC purchased a new stake in shares of Synopsys during the 3rd quarter valued at approximately $633,469,000. Edgewood Management LLC increased its stake in Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Synopsys in the fourth quarter valued at $199,065,000. Proficio Capital Partners LLC lifted its stake in shares of Synopsys by 71,578.5% in the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after purchasing an additional 385,808 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Synopsys by 32.5% during 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 last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Price Performance

Shares of SNPS opened at $447.99 on Wednesday. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80. The stock has a market cap of $69.27 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The firm has a fifty day moving average price of $494.15 and a 200 day moving average price of $507.35.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business’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 completion of the sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock valued at $22,794,835 in the last three months. 0.62% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on SNPS. Wells Fargo & Company decreased their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Robert W. Baird lowered their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Morgan Stanley cut their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Piper Sandler lowered their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company 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.