Metis Global Partners LLC Has $3.90 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Metis Global Partners LLC grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 3.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,044 shares of the semiconductor company’s stock after buying an additional 299 shares during the period. Metis Global Partners LLC’s holdings in Synopsys were worth $3,904,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of SNPS. Kieckhefer Group LLC bought a new stake in shares of Synopsys in the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC bought a new stake in shares of Synopsys in the 4th quarter worth approximately $33,000. Hazlett Burt & Watson Inc. lifted its position in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares during the period. Sierra Ocean LLC bought a new stake in shares of Synopsys in the 4th quarter worth approximately $39,000. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Synopsys in the 3rd quarter worth approximately $44,000. Institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on SNPS shares. Wells Fargo & Company reduced their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday. Loop Capital began coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday. Morgan Stanley cut their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 sale, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS opened at $457.28 on Friday. The stock has a fifty day moving average price of $506.14 and a two-hundred day moving average price of $515.60. Synopsys, Inc. has a 52-week low of $448.11 and a 52-week high of $624.80. The company has a market cap of $70.69 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 3.23 and a beta of 1.12.

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.