Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Princeton Capital Management LLC

Princeton Capital Management LLC grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 25.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,075 shares of the semiconductor company’s stock after purchasing an additional 221 shares during the quarter. Princeton Capital Management LLC’s holdings in Synopsys were worth $522,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Napean Trading & Investment Co Singapore PTE Ltd raised its holdings in shares of Synopsys by 7.6% during the fourth quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 30,687 shares of the semiconductor company’s stock valued at $14,894,000 after acquiring an additional 2,176 shares during the last quarter. Congress Wealth Management LLC DE raised its stake in Synopsys by 0.5% in the 4th quarter. Congress Wealth Management LLC DE now owns 37,161 shares of the semiconductor company’s stock valued at $18,037,000 after purchasing an additional 192 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Synopsys by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after purchasing an additional 120,575 shares in the last quarter. Stevens Capital Management LP boosted its stake in Synopsys by 6.3% during the 4th quarter. Stevens Capital Management LP now owns 503 shares of the semiconductor company’s stock worth $244,000 after purchasing an additional 30 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Synopsys by 33.6% during the fourth quarter. LPL Financial LLC now owns 129,967 shares of the semiconductor company’s stock worth $63,081,000 after buying an additional 32,699 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Rosenblatt Securities restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Wells Fargo & Company dropped their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Piper Sandler reduced their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. One 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 has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Stock Performance

Synopsys stock opened at $457.77 on Tuesday. The company’s 50 day simple moving average is $490.60 and its 200-day simple moving average is $506.31. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The company has a market capitalization of $70.78 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Insider Activity

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

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.