Champlain Investment Partners LLC Buys 29,600 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Champlain Investment Partners LLC lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 312,526 shares of the semiconductor company’s stock after buying an additional 29,600 shares during the period. Champlain Investment Partners LLC’s holdings in Synopsys were worth $151,688,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Nordea Investment Management AB grew its holdings in shares of Synopsys by 15.9% during the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after purchasing an additional 143,284 shares during the last quarter. James Hambro & Partners LLP boosted its position in Synopsys by 30.9% during the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock worth $97,725,000 after buying an additional 47,527 shares during the period. Synovus Financial Corp grew its holdings in Synopsys by 199.2% during the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock worth $7,627,000 after acquiring an additional 10,028 shares during the last quarter. Janney Capital Management LLC acquired a new position in Synopsys in the 4th quarter valued at approximately $6,082,000. Finally, Artemis Investment Management LLP raised its stake in shares of Synopsys by 4.5% during the fourth quarter. Artemis Investment Management LLP now owns 24,878 shares of the semiconductor company’s stock valued at $12,075,000 after acquiring an additional 1,081 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of Synopsys stock opened at $415.65 on Thursday. The business has a 50-day simple moving average of $451.03 and a 200 day simple moving average of $496.32. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The firm has a market capitalization of $64.27 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 3.23 and a beta of 1.23.

Analysts Set New Price Targets

SNPS has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Piper Sandler lowered their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. One 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, the company has an average rating of “Moderate Buy” and an average price target of $618.31.

Insider Activity

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