Canada Pension Plan Investment Board Buys 27,225 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Canada Pension Plan Investment Board lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 154.0% during the fourth quarter, HoldingsChannel reports. The firm owned 44,909 shares of the semiconductor company’s stock after acquiring an additional 27,225 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Synopsys were worth $21,797,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Kieckhefer Group LLC acquired a new stake in Synopsys in the fourth quarter valued at $27,000. Whipplewood Advisors LLC acquired a new stake in Synopsys in the 4th quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Synopsys during the fourth quarter worth approximately $34,000. Sierra Ocean LLC bought a new stake in Synopsys in the fourth quarter valued at approximately $39,000. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS opened at $413.32 on Friday. The firm has a 50 day simple moving average of $446.35 and a two-hundred day simple moving average of $495.10. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The company has a market cap of $63.91 billion, a P/E ratio of 28.47, a P/E/G ratio of 3.23 and a beta of 1.23.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SNPS shares. Needham & Company LLC restated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Mizuho reduced their target price on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Redburn Atlantic began coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective for the company. KeyCorp decreased their target price on Synopsys from $690.00 to $555.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Finally, 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 report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $618.31.

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.