Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 141.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,145 shares of the semiconductor company’s stock after purchasing an additional 670 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Synopsys were worth $556,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. LGT Group Foundation boosted its holdings in shares of Synopsys by 3.3% in the 4th quarter. LGT Group Foundation now owns 17,205 shares of the semiconductor company’s stock valued at $8,351,000 after buying an additional 556 shares during the period. DJE Kapital AG bought a new position in Synopsys in the fourth quarter worth about $13,412,000. Plato Investment Management Ltd boosted its stake in Synopsys by 12.5% in the fourth quarter. Plato Investment Management Ltd now owns 5,039 shares of the semiconductor company’s stock valued at $2,455,000 after acquiring an additional 559 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Synopsys during the fourth quarter valued at approximately $1,392,000. Finally, Jones Financial Companies Lllp raised its position in shares of Synopsys by 17.4% during the 4th quarter. Jones Financial Companies Lllp now owns 5,213 shares of the semiconductor company’s stock worth $2,530,000 after purchasing an additional 772 shares during the period. Institutional investors own 85.47% of the company’s stock.

Insider Activity

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred 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 directly owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Synopsys Stock Down 3.1 %

NASDAQ:SNPS opened at $443.26 on Tuesday. The stock has a fifty day simple moving average of $505.15 and a 200 day simple moving average of $514.75. The firm has a market capitalization of $68.54 billion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a 1-year low of $442.29 and a 1-year high of $624.80.

Analyst Upgrades and Downgrades

SNPS has been the topic of several analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Wells Fargo & Company decreased their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Piper Sandler dropped their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Morgan Stanley decreased their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Finally, Loop Capital began coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and an average 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.