Neuberger Berman Group LLC Buys 82,220 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Neuberger Berman Group LLC grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 19.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 498,674 shares of the semiconductor company’s stock after purchasing an additional 82,220 shares during the period. Neuberger Berman Group LLC’s holdings in Synopsys were worth $242,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNPS. EP Wealth Advisors LLC increased its holdings in Synopsys by 36.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 2,041 shares of the semiconductor company’s stock worth $1,033,000 after purchasing an additional 547 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Synopsys by 10.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 56,089 shares of the semiconductor company’s stock valued at $28,403,000 after buying an additional 5,483 shares during the period. M&T Bank Corp lifted its holdings in shares of Synopsys by 48.4% in the 3rd quarter. M&T Bank Corp now owns 10,763 shares of the semiconductor company’s stock valued at $5,450,000 after buying an additional 3,509 shares during the period. Resources Management Corp CT ADV increased its stake in shares of Synopsys by 319.9% in the 3rd quarter. Resources Management Corp CT ADV now owns 1,432 shares of the semiconductor company’s stock valued at $725,000 after purchasing an additional 1,091 shares in the last quarter. Finally, Brophy Wealth Management LLC purchased a new stake in Synopsys during the 3rd quarter worth approximately $205,000. 85.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

Synopsys Trading Up 12.3 %

NASDAQ SNPS opened at $428.70 on Thursday. The firm’s fifty day moving average price is $461.83 and its two-hundred day moving average price is $499.45. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The firm has a market capitalization of $66.29 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Piper Sandler reduced their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Finally, Redburn Atlantic initiated coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

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.