Bridgewater Associates LP Buys Shares of 34,236 Synopsys, Inc. (NASDAQ:SNPS)

Bridgewater Associates LP purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, Holdings Channel.com reports. The fund purchased 34,236 shares of the semiconductor company’s stock, valued at approximately $16,617,000.

Other hedge funds have also made changes to their positions in the company. Guggenheim Capital LLC increased its position in Synopsys by 7.0% in the fourth quarter. Guggenheim Capital LLC now owns 84,176 shares of the semiconductor company’s stock worth $40,856,000 after buying an additional 5,484 shares during the period. Canada Post Corp Registered Pension Plan bought a new position in shares of Synopsys during the fourth quarter worth about $1,179,000. XTX Topco Ltd bought a new stake in Synopsys in the 4th quarter valued at about $228,000. Belpointe Asset Management LLC lifted its position in Synopsys by 1.3% in the 4th quarter. Belpointe Asset Management LLC now owns 4,317 shares of the semiconductor company’s stock valued at $2,243,000 after purchasing an additional 57 shares during the last quarter. Finally, CreativeOne Wealth LLC boosted its stake in Synopsys by 19.2% during the 4th quarter. CreativeOne Wealth LLC now owns 2,681 shares of the semiconductor company’s stock valued at $1,301,000 after purchasing an additional 431 shares during the period. 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 50-day moving average of $453.23 and a 200-day moving average of $496.88. The firm 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.

Insider Buying and Selling

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 transaction 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 approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction 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 completion of the transaction, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % 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.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SNPS shares. Mizuho cut their price target on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. KeyCorp cut their price objective on shares of Synopsys from $690.00 to $555.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Piper Sandler decreased their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $623.17.

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.