Synopsys, Inc. (NASDAQ:SNPS) Stock Position Raised by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lifted its position in Synopsys, Inc. (NASDAQ:SNPS) by 2.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 168,251 shares of the semiconductor company’s stock after buying an additional 4,092 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Synopsys were worth $81,662,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Algebris UK Ltd acquired a new position in shares of Synopsys during the 4th quarter worth $597,000. Generali Investments Management Co LLC bought a new stake in Synopsys in the fourth quarter worth $889,000. Investment House LLC increased its position in Synopsys by 247.9% during the fourth quarter. Investment House LLC now owns 4,989 shares of the semiconductor company’s stock worth $2,421,000 after buying an additional 3,555 shares during the last quarter. Platinum Investment Management Ltd. raised its holdings in Synopsys by 39.8% during the fourth quarter. Platinum Investment Management Ltd. now owns 3,317 shares of the semiconductor company’s stock valued at $1,610,000 after buying an additional 944 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of Synopsys by 2.8% in the fourth quarter. Xponance Inc. now owns 40,766 shares of the semiconductor company’s stock worth $19,786,000 after buying an additional 1,129 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Up 0.5 %

Shares of NASDAQ SNPS opened at $450.28 on Thursday. The firm has a market capitalization of $69.62 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a one year low of $425.73 and a one year high of $624.80. The business has a fifty day simple moving average of $493.11 and a 200 day simple moving average of $506.95.

Insider Buying and Selling at Synopsys

In other 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 directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the 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 completion of the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock valued at $22,794,835 in the last 90 days. 0.62% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Piper Sandler cut their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Morgan Stanley dropped their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

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.