LGT Group Foundation Acquires 556 Shares of Synopsys, Inc. (NASDAQ:SNPS)

LGT Group Foundation boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,205 shares of the semiconductor company’s stock after buying an additional 556 shares during the period. LGT Group Foundation’s holdings in Synopsys were worth $8,351,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Kieckhefer Group LLC bought a new position in Synopsys in the 4th quarter valued at about $27,000. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys in the fourth quarter worth approximately $33,000. Hazlett Burt & Watson Inc. raised its stake in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Synopsys in the fourth quarter valued at approximately $39,000. Finally, Princeton Global Asset Management LLC purchased a new position in shares of Synopsys during the third quarter valued at approximately $44,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction dated 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 sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.62% of the stock is owned by corporate insiders.

Synopsys Price Performance

NASDAQ:SNPS opened at $457.28 on Monday. The company has a market capitalization of $70.70 billion, a P/E ratio of 31.49, a P/E/G ratio of 3.23 and a beta of 1.12. The business has a fifty day simple moving average of $506.14 and a two-hundred day simple moving average of $515.49. Synopsys, Inc. has a 1 year low of $448.11 and a 1 year high of $624.80.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday. Loop Capital started coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price target on the stock. Morgan Stanley reduced their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Robert W. Baird decreased their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Finally, Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

About Synopsys

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.