Virtu Financial LLC Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Virtu Financial LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,185 shares of the semiconductor company’s stock, valued at approximately $4,458,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in shares of Synopsys by 6.4% in the third quarter. PNC Financial Services Group Inc. now owns 24,715 shares of the semiconductor company’s stock valued at $12,515,000 after acquiring an additional 1,494 shares during the period. Commerce Bank boosted its position in shares of Synopsys by 4.0% in the third quarter. Commerce Bank now owns 10,029 shares of the semiconductor company’s stock valued at $5,079,000 after acquiring an additional 383 shares during the period. Jennison Associates LLC boosted its position in shares of Synopsys by 41.1% in the third quarter. Jennison Associates LLC now owns 13,802 shares of the semiconductor company’s stock valued at $6,989,000 after acquiring an additional 4,017 shares during the period. Citizens Financial Group Inc. RI bought a new position in shares of Synopsys in the third quarter valued at approximately $229,000. Finally, Cornerstone Advisors LLC boosted its position in shares of Synopsys by 40.0% in the third quarter. Cornerstone Advisors LLC now owns 2,800 shares of the semiconductor company’s stock valued at $1,418,000 after acquiring an additional 800 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

SNPS stock opened at $448.60 on Friday. The company has a market capitalization of $69.36 billion, a PE ratio of 30.90, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a one year low of $425.73 and a one year high of $624.80. The company’s 50 day moving average price is $491.19 and its two-hundred day moving average price is $506.06.

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNPS. Piper Sandler cut their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research note 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 research note on Monday, February 24th. Finally, Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

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.