Sig Brokerage LP Buys New Shares in Synopsys, Inc. (NASDAQ:SNPS)

Sig Brokerage LP bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,511 shares of the semiconductor company’s stock, valued at approximately $1,219,000.

Several other institutional investors have also recently added to or reduced their stakes in SNPS. James Hambro & Partners LLP increased 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 acquiring an additional 47,527 shares during the last quarter. Janney Capital Management LLC acquired a new stake in Synopsys during the fourth quarter worth about $6,082,000. Artemis Investment Management LLP increased its stake in Synopsys by 4.5% during the fourth quarter. Artemis Investment Management LLP now owns 24,878 shares of the semiconductor company’s stock worth $12,075,000 after acquiring an additional 1,081 shares during the last quarter. Fiera Capital Corp increased its stake in Synopsys by 33.8% during the fourth quarter. Fiera Capital Corp now owns 196,391 shares of the semiconductor company’s stock worth $95,320,000 after acquiring an additional 49,653 shares during the last quarter. Finally, Bancreek Capital Management LP acquired a new stake in Synopsys during the fourth quarter worth about $3,827,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SNPS shares. Piper Sandler dropped their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Mizuho dropped their price target on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. KeyCorp dropped their target price on Synopsys from $690.00 to $555.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Finally, Wells Fargo & Company dropped their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus target price of $613.43.

Synopsys Price Performance

NASDAQ SNPS opened at $514.48 on Friday. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80. The company has a market capitalization of $79.55 billion, a price-to-earnings ratio of 35.43, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The company’s fifty day moving average price is $442.76 and its two-hundred day moving average price is $489.56.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred 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 transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This trade represents a 13.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction that occurred on 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

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.