DnB Asset Management AS Grows Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

DnB Asset Management AS raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,127 shares of the semiconductor company’s stock after purchasing an additional 4,003 shares during the period. DnB Asset Management AS’s holdings in Synopsys were worth $22,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. D.A. Davidson & CO. increased its holdings in shares of Synopsys by 13.9% in the third quarter. D.A. Davidson & CO. now owns 4,118 shares of the semiconductor company’s stock valued at $2,085,000 after purchasing an additional 502 shares during the period. Townsquare Capital LLC increased its position in shares of Synopsys by 9.8% in the third quarter. Townsquare Capital LLC now owns 5,700 shares of the semiconductor company’s stock valued at $2,886,000 after buying an additional 508 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Synopsys by 150.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 35,434 shares of the semiconductor company’s stock valued at $17,943,000 after buying an additional 21,304 shares in the last quarter. CreativeOne Wealth LLC raised its position in shares of Synopsys by 315.1% in the third quarter. CreativeOne Wealth LLC now owns 2,250 shares of the semiconductor company’s stock valued at $1,139,000 after buying an additional 1,708 shares during the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in Synopsys in the 3rd quarter worth about $11,441,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In related news, 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 transaction, the insider now owns 116,671 shares in the company, valued at approximately $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 can be accessed through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock valued at $22,794,835 over the last ninety days. 0.62% of the stock is owned by company insiders.

Synopsys Stock Down 1.9 %

NASDAQ SNPS opened at $437.95 on Friday. The company has a market capitalization of $67.72 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 3.23 and a beta of 1.16. The stock has a fifty day simple moving average of $485.62 and a 200 day simple moving average of $505.27. Synopsys, Inc. has a twelve month low of $425.73 and a twelve month high of $624.80.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Piper Sandler decreased their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company dropped their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Morgan Stanley decreased their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.