216,000 Shares in Synopsys, Inc. (NASDAQ:SNPS) Acquired by Alecta Tjanstepension Omsesidigt

Alecta Tjanstepension Omsesidigt bought a new position in Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 216,000 shares of the semiconductor company’s stock, valued at approximately $104,741,000.

Several other institutional investors have also modified their holdings of SNPS. Kieckhefer Group LLC acquired a new stake in shares of Synopsys during the 4th quarter worth about $27,000. Whipplewood Advisors LLC purchased a new stake in Synopsys in the fourth quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. lifted its stake in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at $39,000. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Synopsys in the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 2.7 %

Shares of SNPS opened at $470.46 on Thursday. The company has a market capitalization of $72.72 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a 52-week low of $457.00 and a 52-week high of $624.80. The stock has a 50 day moving average price of $507.61 and a 200 day moving average price of $516.56.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SNPS shares. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Wells Fargo & Company dropped their price target on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Finally, Piper Sandler lowered their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Synopsys has an average rating of “Moderate Buy” and a consensus target price of $639.58.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.62% of the company’s stock.

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.