Horizon Investments LLC Acquires 2,886 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Horizon Investments LLC raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 76.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,671 shares of the semiconductor company’s stock after buying an additional 2,886 shares during the quarter. Horizon Investments LLC’s holdings in Synopsys were worth $3,238,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. GSA Capital Partners LLP bought a new stake in shares of Synopsys during the third quarter valued at approximately $467,000. OneDigital Investment Advisors LLC boosted its position in shares of Synopsys by 28.7% during the third quarter. OneDigital Investment Advisors LLC now owns 2,581 shares of the semiconductor company’s stock valued at $1,307,000 after purchasing an additional 575 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Synopsys by 13.2% during the third quarter. Empowered Funds LLC now owns 7,254 shares of the semiconductor company’s stock valued at $3,673,000 after purchasing an additional 844 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Synopsys during the third quarter valued at approximately $1,788,000. Finally, Pathstone Holdings LLC boosted its position in shares of Synopsys by 6.9% during the third quarter. Pathstone Holdings LLC now owns 19,078 shares of the semiconductor company’s stock valued at $9,661,000 after purchasing an additional 1,225 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SNPS shares. Rosenblatt Securities restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Needham & Company LLC reissued a “buy” rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Piper Sandler dropped their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company dropped their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Finally, Morgan Stanley dropped their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Price Performance

SNPS stock opened at $447.99 on Wednesday. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80. The business has a fifty day moving average price of $494.15 and a 200-day moving average price of $507.35. The stock has a market capitalization of $69.27 billion, a P/E ratio of 30.85, a P/E/G ratio of 3.23 and a beta of 1.16.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the company’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 sale, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were 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 of the company’s stock, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock worth $22,794,835 over the last quarter. 0.62% of the stock is currently owned by insiders.

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.