LGT Fund Management Co Ltd. Buys 670 Shares of Synopsys, Inc. (NASDAQ:SNPS)

LGT Fund Management Co Ltd. boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 141.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,145 shares of the semiconductor company’s stock after acquiring an additional 670 shares during the period. LGT Fund Management Co Ltd.’s holdings in Synopsys were worth $556,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Parnassus Investments LLC acquired a new position in shares of Synopsys in the third quarter valued at $633,469,000. Edgewood Management LLC lifted its holdings in shares of Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of 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. Impax Asset Management Group plc increased its stake in Synopsys by 120.2% in the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after acquiring an additional 267,836 shares during the period. Finally, Wellington Management Group LLP raised its position in Synopsys by 32.5% in the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after purchasing an additional 257,526 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Down 3.1 %

Shares of Synopsys stock opened at $443.26 on Tuesday. The company has a market capitalization of $68.54 billion, a PE ratio of 30.53, a PEG ratio of 3.23 and a beta of 1.12. The stock’s fifty day simple moving average is $505.15 and its 200 day simple moving average is $514.75. Synopsys, Inc. has a 12 month low of $442.29 and a 12 month high of $624.80.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of recent research reports. Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Wells Fargo & Company lowered their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Morgan Stanley lowered their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Finally, Robert W. Baird cut their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. One 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, the company presently has an average rating of “Moderate Buy” and an average target price of $638.58.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.