Rheos Capital Works Inc. Has $23.78 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Rheos Capital Works Inc. increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 22.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,000 shares of the semiconductor company’s stock after purchasing an additional 9,000 shares during the quarter. Synopsys makes up approximately 1.3% of Rheos Capital Works Inc.’s portfolio, making the stock its 24th largest position. Rheos Capital Works Inc.’s holdings in Synopsys were worth $23,783,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Trust Walden Corp increased its position in Synopsys by 1.2% in the 4th quarter. Boston Trust Walden Corp now owns 2,474 shares of the semiconductor company’s stock worth $1,201,000 after purchasing an additional 30 shares during the last quarter. Magnolia Capital Advisors LLC bought a new stake in shares of Synopsys in the 4th quarter valued at approximately $245,000. Stock Yards Bank & Trust Co. acquired a new position in Synopsys in the fourth quarter worth approximately $710,000. Greenleaf Trust raised its position in Synopsys by 8.9% during the fourth quarter. Greenleaf Trust now owns 6,909 shares of the semiconductor company’s stock valued at $3,353,000 after acquiring an additional 566 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its position in Synopsys by 2.9% in the fourth quarter. DAVENPORT & Co LLC now owns 2,521 shares of the semiconductor company’s stock worth $1,224,000 after acquiring an additional 70 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SNPS shares. Berenberg Bank assumed coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective on the stock. Redburn Atlantic initiated 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. Robert W. Baird decreased their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Finally, Piper Sandler dropped their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’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 $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by company insiders.

Synopsys Price Performance

Shares of Synopsys stock opened at $525.48 on Monday. The firm has a fifty day moving average price of $516.26 and a two-hundred day moving average price of $519.95. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The company has a market cap of $81.23 billion, a PE ratio of 36.19, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12.

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.