Resona Asset Management Co. Ltd. Purchases Shares of 46,623 Synopsys, Inc. (NASDAQ:SNPS)

Resona Asset Management Co. Ltd. acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 46,623 shares of the semiconductor company’s stock, valued at approximately $22,666,000.

Other large investors have also recently made changes to their positions in the company. Kieckhefer Group LLC purchased a new stake in Synopsys during the 4th quarter valued at about $27,000. Whipplewood Advisors LLC purchased a new stake in Synopsys in the fourth quarter valued at approximately $33,000. Sierra Ocean LLC acquired a new position in Synopsys in the 4th quarter worth approximately $39,000. Hazlett Burt & Watson Inc. raised its position in Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after buying an additional 20 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in Synopsys by 50.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 33 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SNPS. Rosenblatt Securities reissued a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Wells Fargo & Company reduced their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Piper Sandler lowered their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley dropped their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Finally, Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Stock Down 7.1 %

Shares of SNPS opened at $388.13 on Friday. Synopsys, Inc. has a 52-week low of $387.41 and a 52-week high of $624.80. The stock has a market cap of $60.01 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. The firm’s fifty day moving average is $473.83 and its two-hundred day moving average is $503.09.

Insider Activity at Synopsys

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 transaction of $5,270,982.50. Following the completion of the sale, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now directly 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 90 days, insiders sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by 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.