Synopsys, Inc. (NASDAQ:SNPS) Stake Increased by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 39.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,317 shares of the semiconductor company’s stock after purchasing an additional 944 shares during the period. Platinum Investment Management Ltd.’s holdings in Synopsys were worth $1,610,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp raised its holdings in shares of Synopsys by 1.7% during the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after acquiring an additional 119,057 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Synopsys by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after acquiring an additional 61,799 shares in the last quarter. Edgewood Management LLC raised its holdings in shares of Synopsys by 18.9% during the third 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 in the last quarter. Parnassus Investments LLC purchased a new stake in shares of Synopsys during the third quarter worth $633,469,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Synopsys by 7.7% during the third quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company’s stock worth $577,289,000 after acquiring an additional 81,198 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $447.99 on Wednesday. The company has a market cap 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. The stock’s 50-day moving average is $494.15 and its 200-day moving average is $507.35. Synopsys, Inc. has a 52-week low of $425.73 and a 52-week high of $624.80.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated 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 approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares of the company’s stock, 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. Over the last ninety days, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is owned by insiders.

Analyst Ratings Changes

SNPS has been the subject of several recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Finally, Wells Fargo & Company lowered their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” 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 eleven have given a buy rating to the company. According to MarketBeat, Synopsys has an average rating of “Moderate Buy” and an average target price 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.