Talos Asset Management LP Invests $16.84 Million in Synopsys, Inc. (NASDAQ:SNPS)

Talos Asset Management LP purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 34,700 shares of the semiconductor company’s stock, valued at approximately $16,842,000. Synopsys accounts for about 4.0% of Talos Asset Management LP’s investment portfolio, making the stock its 11th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Caprock Group LLC raised its position in shares of Synopsys by 0.5% during the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after purchasing an additional 20 shares during the period. Compagnie Lombard Odier SCmA raised its position in shares of Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after purchasing an additional 20 shares during the period. Edge Capital Group LLC raised its position in shares of Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock worth $791,000 after purchasing an additional 20 shares during the period. Barden Capital Management Inc. raised its position in shares of Synopsys by 1.1% during the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock worth $889,000 after purchasing an additional 20 shares during the period. Finally, Resurgent Financial Advisors LLC raised its position in shares of Synopsys by 2.8% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock worth $410,000 after purchasing an additional 22 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SNPS. Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Wells Fargo & Company decreased their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Finally, Robert W. Baird decreased their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction 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 sale, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction on Wednesday, January 15th. The shares were 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 $738,774.60. The trade was a 93.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock valued at $22,794,835 in the last three months. 0.62% of the stock is currently owned by corporate insiders.

Synopsys Stock Up 0.5 %

SNPS opened at $450.28 on Thursday. The firm has a market cap of $69.62 billion, a PE ratio of 31.01, a P/E/G ratio of 3.23 and a beta of 1.16. The business has a fifty day simple moving average of $493.11 and a 200-day simple moving average of $506.95. Synopsys, Inc. has a fifty-two week low of $425.73 and a fifty-two week high of $624.80.

About Synopsys

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.