Everest Management Corp. Purchases Shares of 439 Synopsys, Inc. (NASDAQ:SNPS)

Everest Management Corp. acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 439 shares of the semiconductor company’s stock, valued at approximately $213,000.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Synopsys by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after buying an additional 120,575 shares in the last quarter. Geode Capital Management LLC raised its stake in Synopsys by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock valued at $1,625,230,000 after purchasing an additional 75,298 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in Synopsys by 3.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,758,759 shares of the semiconductor company’s stock valued at $853,631,000 after purchasing an additional 60,121 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Synopsys by 5.2% in the 4th quarter. Invesco Ltd. now owns 1,381,496 shares of the semiconductor company’s stock worth $670,523,000 after buying an additional 68,766 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Synopsys during the 4th quarter valued at about $583,608,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 0.9 %

NASDAQ:SNPS opened at $425.65 on Wednesday. The company has a market cap of $65.81 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80. The stock has a fifty day simple moving average of $453.23 and a 200-day simple moving average of $496.88.

Insider Buying and Selling

In related news, insider Geus Aart De sold 15,705 shares of the 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 transaction, the insider now owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on SNPS shares. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Morgan Stanley dropped their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. KeyCorp lowered their price target on Synopsys from $690.00 to $555.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company cut their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $623.17.

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.