Jump Financial LLC Buys New Stake in Synopsys, Inc. (NASDAQ:SNPS)

Jump Financial LLC purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 933 shares of the semiconductor company’s stock, valued at approximately $453,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Synopsys in the 4th quarter valued at about $583,608,000. Raymond James Financial Inc. acquired a new stake in Synopsys in the 4th quarter valued at $199,065,000. Proficio Capital Partners LLC increased its holdings in Synopsys by 71,578.5% in 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 in the last quarter. Alecta Tjanstepension Omsesidigt acquired a new position in Synopsys during the fourth quarter worth $104,741,000. Finally, American Century Companies Inc. raised its position in Synopsys by 38.7% during the fourth quarter. American Century Companies Inc. now owns 571,474 shares of the semiconductor company’s stock worth $277,371,000 after acquiring an additional 159,344 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated 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 owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $438.90 on Friday. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The company has a market capitalization of $67.86 billion, a P/E ratio of 30.23, a P/E/G ratio of 3.23 and a beta of 1.23. The company has a 50 day simple moving average of $438.23 and a 200-day simple moving average of $492.97.

Analysts Set New Price Targets

A number of analysts have recently commented on SNPS shares. Bank of America cut their target price on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Piper Sandler reduced their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. KeyCorp lowered their price target on Synopsys from $690.00 to $555.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. 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 for the company. Finally, Wells Fargo & Company lowered their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $618.31.

Synopsys Company 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.