Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Northern Trust Corp

Northern Trust Corp boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 14.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,639,587 shares of the semiconductor company’s stock after buying an additional 209,031 shares during the period. Northern Trust Corp owned 1.06% of Synopsys worth $795,790,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pine Valley Investments Ltd Liability Co grew its position in Synopsys by 44.8% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 727 shares of the semiconductor company’s stock valued at $368,000 after buying an additional 225 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Synopsys during the 3rd quarter worth $253,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Synopsys during the 3rd quarter worth $865,000. Blankinship & Foster LLC acquired a new position in shares of Synopsys during the 3rd quarter worth $2,772,000. Finally, Synovus Financial Corp raised its stake in Synopsys by 199.2% in the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock valued at $7,627,000 after purchasing an additional 10,028 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 0.6 %

Synopsys stock opened at $443.97 on Tuesday. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The firm has a market capitalization of $68.65 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 3.23 and a beta of 1.23. The firm has a 50-day moving average price of $435.52 and a two-hundred day moving average price of $491.27.

Insiders Place Their Bets

In other news, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction on 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 $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of the 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 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. 0.62% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. 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. KeyCorp decreased their target price on Synopsys from $690.00 to $555.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Morgan Stanley lowered their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Finally, Piper Sandler dropped their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and a consensus price target of $613.43.

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.