Martin Currie Ltd. Buys New Position in Synopsys, Inc. (NASDAQ:SNPS)

Martin Currie Ltd. purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, HoldingsChannel reports. The firm purchased 28,664 shares of the semiconductor company’s stock, valued at approximately $13,912,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNPS. Arrowstreet Capital Limited Partnership acquired a new position in Synopsys in the fourth quarter valued at $1,678,000. Allianz SE bought a new position in shares of Synopsys in the 4th quarter worth about $2,371,000. Allstate Corp acquired a new position in shares of Synopsys in the 4th quarter valued at about $2,200,000. Maridea Wealth Management LLC bought a new stake in shares of Synopsys during the 4th quarter valued at about $504,000. Finally, Brown Brothers Harriman & Co. grew its stake in Synopsys by 6.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,927 shares of the semiconductor company’s stock worth $935,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

SNPS stock opened at $437.95 on Friday. The company has a market capitalization of $67.72 billion, a P/E ratio of 30.16, a price-to-earnings-growth 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 business has a 50-day simple moving average of $485.62 and a two-hundred day simple moving average of $505.55.

Insider Activity at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’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 completion of the sale, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock valued at $22,794,835 over the last 90 days. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on SNPS shares. Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Piper Sandler dropped their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley reduced their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Needham & Company LLC reiterated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

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.