Pilgrim Partners Asia Pte Ltd Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Pilgrim Partners Asia Pte Ltd bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 70 shares of the semiconductor company’s stock, valued at approximately $34,000.

Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Synopsys in the fourth quarter valued at $583,608,000. Raymond James Financial Inc. purchased a new stake in Synopsys during the 4th quarter valued at approximately $199,065,000. Proficio Capital Partners LLC lifted its position in Synopsys by 71,578.5% during the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock worth $187,517,000 after acquiring an additional 385,808 shares during the period. Wellington Management Group LLP grew its stake 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 valued at $531,056,000 after purchasing an additional 257,526 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in shares of Synopsys in the fourth quarter valued at approximately $104,741,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. 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 report on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company reduced their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Price Performance

SNPS opened at $388.13 on Friday. The stock’s 50 day simple moving average is $473.83 and its 200 day simple moving average is $503.09. The stock has a market cap of $60.01 billion, a P/E ratio of 26.73, a P/E/G ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 1-year low of $387.41 and a 1-year high of $624.80.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,909 shares of company stock valued at $22,794,835. Insiders own 0.62% 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.