Tower Research Capital LLC TRC Has $6.07 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Tower Research Capital LLC TRC boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 33.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,501 shares of the semiconductor company’s stock after purchasing an additional 3,131 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Synopsys were worth $6,067,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Kieckhefer Group LLC acquired a new position in shares of Synopsys during the fourth quarter valued at about $27,000. Whipplewood Advisors LLC acquired a new position in Synopsys in the 4th quarter valued at approximately $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Synopsys in the 4th quarter worth approximately $34,000. Sierra Ocean LLC acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $39,000. Finally, Hazlett Burt & Watson Inc. increased its position in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 20 shares during the period. 85.47% of the stock is owned by institutional investors.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

Synopsys Price Performance

SNPS stock opened at $413.32 on Monday. The business has a fifty day moving average price of $446.35 and a 200 day moving average price of $495.09. The stock has a market capitalization of $63.91 billion, a price-to-earnings ratio of 28.47, a P/E/G ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bank of America reduced their target price on Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Piper Sandler decreased their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Morgan Stanley cut their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Finally, Redburn Atlantic began coverage on Synopsys in a research note 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 twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $618.31.

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.