Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Lifted by AIA Group Ltd

AIA Group Ltd boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 15.2% in the fourth quarter, HoldingsChannel reports. The firm owned 13,186 shares of the semiconductor company’s stock after purchasing an additional 1,737 shares during the quarter. AIA Group Ltd’s holdings in Synopsys were worth $6,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. boosted its stake in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 20 shares in the last quarter. Wellington Management Group LLP increased its position in Synopsys by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 1,057,760 shares of the semiconductor company’s stock worth $513,394,000 after purchasing an additional 9,051 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Synopsys by 38.1% during the 4th quarter. Clearbridge Investments LLC now owns 348,229 shares of the semiconductor company’s stock worth $169,017,000 after purchasing an additional 96,147 shares during the last quarter. Martin Currie Ltd. acquired a new position in Synopsys in the 4th quarter valued at $13,912,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Synopsys during the 4th quarter worth about $1,678,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 transaction, the executive now directly 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. Over the last quarter, insiders have sold 47,909 shares of company stock worth $22,794,835. Corporate insiders own 0.62% of the company’s stock.

Synopsys Trading Down 1.9 %

Shares of SNPS opened at $437.95 on Monday. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80. The firm’s fifty day simple moving average is $485.62 and its two-hundred day simple moving average is $505.72. The stock has a market capitalization of $67.72 billion, a P/E ratio of 30.16, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Wall Street Analyst Weigh In

SNPS has been the subject of several research reports. 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. Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Morgan Stanley dropped their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Finally, Piper Sandler decreased their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Company 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.