Intact Investment Management Inc. Has $922,000 Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Intact Investment Management Inc. raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 66.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,900 shares of the semiconductor company’s stock after buying an additional 760 shares during the quarter. Intact Investment Management Inc.’s holdings in Synopsys were worth $922,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Peloton Wealth Strategists grew its holdings in shares of Synopsys by 221.2% during the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after purchasing an additional 1,984 shares in the last quarter. Swiss National Bank grew its holdings in shares of Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after purchasing an additional 3,200 shares in the last quarter. Parnassus Investments LLC acquired a new stake in shares of Synopsys during the 3rd quarter worth approximately $633,469,000. Nordea Investment Management AB grew its holdings in shares of Synopsys by 15.9% during the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after purchasing an additional 143,284 shares in the last quarter. Finally, James Hambro & Partners LLP grew its holdings in shares of Synopsys by 30.9% during the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock worth $97,725,000 after purchasing an additional 47,527 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling

In other Synopsys 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 value of $6,979,616.10. Following the sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,909 shares of company stock worth $22,794,835. Corporate insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

SNPS opened at $446.23 on Friday. Synopsys, Inc. has a 52-week low of $425.73 and a 52-week high of $624.80. The firm has a market capitalization of $69.00 billion, a PE ratio of 30.73, a PEG ratio of 3.23 and a beta of 1.16. The business’s 50-day simple moving average is $495.89 and its 200 day simple moving average is $508.31.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SNPS. Rosenblatt Securities restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Piper Sandler cut their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Morgan Stanley dropped 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, Wells Fargo & Company dropped their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

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.