Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 1.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 718,514 shares of the semiconductor company’s stock after acquiring an additional 10,538 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Synopsys were worth $348,738,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Kieckhefer Group LLC acquired a new stake in Synopsys in the fourth quarter valued at $27,000. Tsfg LLC boosted its holdings in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. increased its stake in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in Synopsys during the third quarter worth approximately $44,000. Finally, nVerses Capital LLC purchased a new stake in shares of Synopsys during the 3rd quarter worth approximately $51,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction 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 approximately $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SNPS shares. Piper Sandler dropped their target price 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. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. Loop Capital started coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Wells Fargo & Company cut their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Synopsys has an average rating of “Moderate Buy” and a consensus target price of $641.82.

Synopsys Stock Performance

SNPS stock opened at $533.18 on Friday. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The company has a fifty day moving average of $514.44 and a 200-day moving average of $519.45. The stock has a market capitalization of $82.42 billion, a PE ratio of 36.72, 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.