Candriam S.C.A. Increases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Candriam S.C.A. raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 82,125 shares of the semiconductor company’s stock after purchasing an additional 356 shares during the quarter. Candriam S.C.A. owned 0.05% of Synopsys worth $39,860,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kieckhefer Group LLC purchased a new stake in shares of Synopsys in the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys in the fourth quarter valued at approximately $33,000. Sierra Ocean LLC purchased a new stake in shares of Synopsys in the fourth quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Synopsys in the fourth quarter valued at approximately $51,000. Finally, Versant Capital Management Inc boosted its stake in shares of Synopsys by 109.3% in the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 59 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SNPS. Wells Fargo & Company decreased their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Robert W. Baird reduced their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Finally, Piper Sandler reduced their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was 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 of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Synopsys Stock Up 0.6 %

NASDAQ SNPS opened at $447.96 on Thursday. Synopsys, Inc. has a fifty-two week low of $429.77 and a fifty-two week high of $624.80. The stock has a market cap of $69.26 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. The business has a fifty day moving average of $503.01 and a 200-day moving average of $513.56.

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.