3,363 Shares in Synopsys, Inc. (NASDAQ:SNPS) Purchased by Illumine Investment Management LLC

Illumine Investment Management LLC purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 3,363 shares of the semiconductor company’s stock, valued at approximately $1,632,000.

Other large investors have also made changes to their positions in the company. Peloton Wealth Strategists grew its stake in shares of Synopsys by 221.2% during the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after purchasing an additional 1,984 shares during the period. Swiss National Bank grew its stake in shares of Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after acquiring an additional 3,200 shares during the period. Parnassus Investments LLC bought a new position in shares of Synopsys during the 3rd quarter valued at approximately $633,469,000. Harvest Portfolios Group Inc. grew its stake in shares of Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after acquiring an additional 1,496 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Synopsys by 15.9% during the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after acquiring an additional 143,284 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction 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 approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Robert W. Baird cut their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Piper Sandler cut their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday. Redburn Atlantic assumed coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Finally, Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Stock Down 3.3 %

SNPS stock opened at $454.71 on Friday. The business’s fifty day simple moving average is $506.84 and its two-hundred day simple moving average is $516.13. Synopsys, Inc. has a twelve month low of $454.05 and a twelve month high of $624.80. The firm has a market cap of $70.29 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 3.23 and a beta of 1.12.

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.