BI Asset Management Fondsmaeglerselskab A S Raises Stake in Synopsys, Inc. (NASDAQ:SNPS)

BI Asset Management Fondsmaeglerselskab A S grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 72.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,869 shares of the semiconductor company’s stock after purchasing an additional 34,300 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.05% of Synopsys worth $39,736,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNPS. Kieckhefer Group LLC purchased a new position in shares of Synopsys in the 4th quarter valued at $27,000. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys in the 4th quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Synopsys in the 4th quarter valued at about $34,000. Sierra Ocean LLC purchased a new stake in Synopsys in the fourth quarter valued at approximately $39,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in 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 purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the sale, the chief executive officer now owns 70,922 shares of the company’s stock, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.

Synopsys Price Performance

Synopsys stock opened at $413.32 on Friday. The stock has a market capitalization of $63.91 billion, a P/E ratio of 28.47, a P/E/G ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The firm’s 50-day moving average is $446.35 and its two-hundred day moving average is $495.11.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SNPS. KeyCorp reduced their target price on shares of Synopsys from $690.00 to $555.00 and set an “overweight” rating for the company in a report on Tuesday. Mizuho decreased their price objective on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday. Bank of America dropped their target price on Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley decreased their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Finally, Piper Sandler lowered their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Synopsys has a consensus rating of “Moderate Buy” and an average target price of $618.31.

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.