Aviva PLC Purchases 5,663 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Aviva PLC increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 92,509 shares of the semiconductor company’s stock after acquiring an additional 5,663 shares during the quarter. Aviva PLC’s holdings in Synopsys were worth $44,900,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNPS. Kieckhefer Group LLC acquired a new position in shares of Synopsys in the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC bought a new position in Synopsys during the 4th quarter worth about $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Synopsys in the 4th quarter valued at about $34,000. Sierra Ocean LLC bought a new stake in shares of Synopsys in the fourth quarter valued at about $39,000. Finally, Hazlett Burt & Watson Inc. boosted 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 worth $44,000 after buying an additional 20 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Insider Transactions at Synopsys

In related news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction that occurred 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 transaction, the insider now directly 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 legal filing with the SEC, which is available through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the business’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 transaction of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is owned by corporate insiders.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $388.13 on Friday. The company has a market capitalization of $60.01 billion, a P/E ratio of 26.73, a P/E/G ratio of 3.23 and a beta of 1.23. The business’s 50 day simple moving average is $473.83 and its 200 day simple moving average is $503.09. Synopsys, Inc. has a 1 year low of $387.41 and a 1 year high of $624.80.

Analysts Set New Price Targets

Several research firms have commented on SNPS. Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Morgan Stanley dropped their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company cut their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

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.