Mitsubishi UFJ Trust & Banking Corp Has $49.49 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Mitsubishi UFJ Trust & Banking Corp boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,963 shares of the semiconductor company’s stock after purchasing an additional 5,773 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.07% of Synopsys worth $49,489,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SNPS. Raymond James Financial Inc. acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $199,065,000. Proficio Capital Partners LLC lifted its stake in Synopsys by 71,578.5% during the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock worth $187,517,000 after purchasing an additional 385,808 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after purchasing an additional 257,526 shares in the last quarter. Alecta Tjanstepension Omsesidigt bought a new position in shares of Synopsys in the 4th quarter valued at $104,741,000. Finally, American Century Companies Inc. raised its holdings in shares of Synopsys by 38.7% during the 4th quarter. American Century Companies Inc. now owns 571,474 shares of the semiconductor company’s stock worth $277,371,000 after buying an additional 159,344 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 0.1 %

NASDAQ SNPS opened at $457.23 on Wednesday. The company has a market capitalization of $70.70 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a twelve month low of $425.73 and a twelve month high of $624.80. The stock has a fifty day simple moving average of $489.94 and a 200 day simple moving average of $506.26.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,909 shares of company stock valued at $22,794,835. Company insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Piper Sandler reduced their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Robert W. Baird reduced their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Wells Fargo & Company lowered their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Morgan Stanley cut their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Synopsys 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.