Brown Brothers Harriman & Co. Has $935,000 Stake in Synopsys, Inc. (NASDAQ:SNPS)

Brown Brothers Harriman & Co. boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 6.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,927 shares of the semiconductor company’s stock after acquiring an additional 119 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Synopsys were worth $935,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Synopsys by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after buying an additional 120,575 shares during the last quarter. State Street Corp lifted its position in Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after acquiring an additional 119,057 shares in the last quarter. Geode Capital Management LLC boosted its stake in Synopsys by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after purchasing an additional 61,799 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in Synopsys by 3.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,758,759 shares of the semiconductor company’s stock worth $853,631,000 after purchasing an additional 60,121 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Synopsys in the fourth quarter worth approximately $583,608,000. Institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Synopsys

In other Synopsys 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 transaction of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated 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 completion of the transaction, the insider now owns 116,671 shares of the company’s stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock worth $22,794,835 in the last quarter. Insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS stock opened at $437.95 on Monday. The firm has a market cap of $67.72 billion, a price-to-earnings ratio of 30.16, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80. The firm’s 50-day simple moving average is $485.62 and its two-hundred day simple moving average is $505.72.

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.