Nissay Asset Management Corp Japan ADV Acquires 1,877 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Nissay Asset Management Corp Japan ADV boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,279 shares of the semiconductor company’s stock after purchasing an additional 1,877 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Synopsys were worth $20,264,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Nan Shan Life Insurance Co. Ltd. increased its holdings in shares of Synopsys by 2.3% during the fourth quarter. Nan Shan Life Insurance Co. Ltd. now owns 89,155 shares of the semiconductor company’s stock valued at $43,272,000 after acquiring an additional 1,967 shares in the last quarter. NorthRock Partners LLC purchased a new position in shares of Synopsys during the fourth quarter valued at approximately $640,000. Nuveen Asset Management LLC boosted its position in shares of Synopsys by 12.1% during the fourth quarter. Nuveen Asset Management LLC now owns 1,691,501 shares of the semiconductor company’s stock valued at $820,987,000 after buying an additional 182,115 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its position in shares of Synopsys by 54.7% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 310,616 shares of the semiconductor company’s stock valued at $150,761,000 after buying an additional 109,785 shares during the last quarter. Finally, Obermeyer Wealth Partners boosted its position in shares of Synopsys by 3.6% during the fourth quarter. Obermeyer Wealth Partners now owns 890 shares of the semiconductor company’s stock valued at $432,000 after buying an additional 31 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

Shares of SNPS opened at $517.66 on Thursday. The stock’s 50-day simple moving average is $441.07 and its 200 day simple moving average is $489.43. The stock has a market capitalization of $80.04 billion, a price-to-earnings ratio of 35.65, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SNPS shares. Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Wells Fargo & Company cut their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Bank of America cut their price objective on Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $613.43.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.

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.