Norges Bank Invests $583.61 Million in Synopsys, Inc. (NASDAQ:SNPS)

Norges Bank purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,202,423 shares of the semiconductor company’s stock, valued at approximately $583,608,000.

Several other institutional investors and hedge funds have also bought and sold shares of SNPS. Peloton Wealth Strategists lifted its holdings 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 worth $1,459,000 after acquiring an additional 1,984 shares during the period. Nordea Investment Management AB raised its position in Synopsys by 15.9% during the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after purchasing an additional 143,284 shares in the last quarter. James Hambro & Partners LLP lifted its stake in Synopsys by 30.9% during the fourth quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock worth $97,725,000 after purchasing an additional 47,527 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of Synopsys by 53.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company’s stock valued at $13,304,000 after purchasing an additional 9,124 shares in the last quarter. Finally, Synovus Financial Corp increased its stake in shares of Synopsys by 199.2% in the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock valued at $7,627,000 after purchasing an additional 10,028 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were 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 owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. 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 ninety days. 0.62% of the stock is owned by company insiders.

Synopsys Trading Down 1.9 %

NASDAQ SNPS opened at $437.95 on Friday. The firm has a market capitalization of $67.72 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The business’s 50-day moving average price is $485.62 and its two-hundred day moving average price is $505.27. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80.

Analysts Set New Price Targets

Several research firms recently weighed in on SNPS. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Robert W. Baird lowered their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Wells Fargo & Company dropped their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note 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 note on Thursday, February 27th. Finally, Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus price target 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.