Ilmarinen Mutual Pension Insurance Co Has $26.09 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Ilmarinen Mutual Pension Insurance Co increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 42.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 53,746 shares of the semiconductor company’s stock after purchasing an additional 16,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Synopsys were worth $26,086,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new stake in Synopsys during the fourth quarter worth about $27,000. Whipplewood Advisors LLC bought a new stake in shares of Synopsys in the 4th quarter worth approximately $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Synopsys in the 4th quarter worth approximately $34,000. Sierra Ocean LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $39,000. Finally, Hazlett Burt & Watson Inc. increased its position in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 20 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

SNPS opened at $388.13 on Friday. The company has a fifty day moving average price of $473.83 and a two-hundred day moving average price of $503.08. The firm has a market capitalization of $60.01 billion, a PE ratio of 26.73, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52 week low of $387.41 and a 52 week high of $624.80.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company decreased 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 report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Piper Sandler dropped their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’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 sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,909 shares of company stock worth $22,794,835. 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.