Truvestments Capital LLC Purchases 36 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Truvestments Capital LLC increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 988 shares of the semiconductor company’s stock after acquiring an additional 36 shares during the period. Truvestments Capital LLC’s holdings in Synopsys were worth $480,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNPS. Parnassus Investments LLC bought a new stake in Synopsys during the 3rd quarter worth $633,469,000. Edgewood Management LLC grew its position in Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Synopsys during the 4th quarter worth $199,065,000. Proficio Capital Partners LLC grew its position in shares of Synopsys by 71,578.5% in the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after buying an additional 385,808 shares during the last quarter. Finally, Impax Asset Management Group plc grew its position in shares of Synopsys by 120.2% in the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after buying an additional 267,836 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Redburn Atlantic assumed coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Wells Fargo & Company reduced their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. 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. Robert W. Baird reduced their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Finally, Piper Sandler reduced their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $638.58.

Insider Buying and Selling

In related news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction that occurred 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 transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This trade 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 company insiders.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $432.46 on Thursday. The business’s 50-day moving average is $497.92 and its 200-day moving average is $509.52. Synopsys, Inc. has a 1 year low of $427.30 and a 1 year high of $624.80. The company has a market capitalization of $66.87 billion, a price-to-earnings ratio of 29.78, a P/E/G ratio of 3.23 and a beta of 1.16.

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.