Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Westpac Banking Corp

Westpac Banking Corp boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 178.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,359 shares of the semiconductor company’s stock after buying an additional 4,073 shares during the period. Westpac Banking Corp’s holdings in Synopsys were worth $3,086,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Nicolet Advisory Services LLC raised its stake in shares of Synopsys by 35.1% in the 4th quarter. Nicolet Advisory Services LLC now owns 651 shares of the semiconductor company’s stock worth $321,000 after buying an additional 169 shares in the last quarter. Kesler Norman & Wride LLC bought a new stake in Synopsys in the fourth quarter worth about $315,000. Wisconsin Capital Management LLC lifted its holdings in Synopsys by 1.7% in the 4th quarter. Wisconsin Capital Management LLC now owns 1,582 shares of the semiconductor company’s stock valued at $768,000 after acquiring an additional 27 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Synopsys during the 4th quarter valued at about $17,792,000. Finally, Boston Family Office LLC grew its stake in shares of Synopsys by 1.0% in the 4th quarter. Boston Family Office LLC now owns 4,405 shares of the semiconductor company’s stock worth $2,138,000 after purchasing an additional 42 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS opened at $417.76 on Friday. Synopsys, Inc. has a 52 week low of $404.08 and a 52 week high of $624.80. The company has a market capitalization of $64.59 billion, a PE ratio of 28.77, a PEG ratio of 3.23 and a beta of 1.16. The company’s 50 day moving average price is $476.99 and its 200 day moving average price is $503.85.

Analyst Ratings Changes

SNPS has been the subject of a number of research reports. Piper Sandler reduced their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. 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. Finally, Morgan Stanley reduced their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and an average target price of $638.58.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 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. The trade was a 11.86 % 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 worth $22,794,835 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Synopsys Company 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.