Vestcor Inc Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

Vestcor Inc boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 7.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,017 shares of the semiconductor company’s stock after acquiring an additional 268 shares during the period. Vestcor Inc’s holdings in Synopsys were worth $1,950,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Peloton Wealth Strategists lifted its position in Synopsys by 221.2% during the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after purchasing an additional 1,984 shares during the period. Swiss National Bank raised its stake in Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after buying an additional 3,200 shares during the last quarter. Parnassus Investments LLC bought a new position in shares of Synopsys during the 3rd quarter valued at $633,469,000. Nordea Investment Management AB boosted its stake in shares of Synopsys by 15.9% in the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after buying an additional 143,284 shares during the last quarter. Finally, James Hambro & Partners LLP grew its holdings in shares of Synopsys by 30.9% in the fourth quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock worth $97,725,000 after acquiring an additional 47,527 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 4.1 %

SNPS stock opened at $446.23 on Friday. Synopsys, Inc. has a twelve month low of $425.73 and a twelve month high of $624.80. The stock has a market capitalization of $69.00 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The firm’s fifty day simple moving average is $495.89 and its two-hundred day simple moving average is $508.41.

Analysts Set New Price Targets

SNPS has been the topic of several research reports. Robert W. Baird dropped their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Morgan Stanley cut their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Wells Fargo & Company lowered their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,909 shares of company stock valued at $22,794,835. Company insiders own 0.62% of the company’s stock.

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.