Allianz SE Invests $2.37 Million in Synopsys, Inc. (NASDAQ:SNPS)

Allianz SE purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,872 shares of the semiconductor company’s stock, valued at approximately $2,371,000.

Several other hedge funds have also added to or reduced their stakes in SNPS. D.A. Davidson & CO. lifted its stake in shares of Synopsys by 13.9% during the 3rd quarter. D.A. Davidson & CO. now owns 4,118 shares of the semiconductor company’s stock worth $2,085,000 after buying an additional 502 shares during the last quarter. Townsquare Capital LLC increased its position in Synopsys by 9.8% during the third quarter. Townsquare Capital LLC now owns 5,700 shares of the semiconductor company’s stock worth $2,886,000 after acquiring an additional 508 shares during the period. CreativeOne Wealth LLC raised its position in shares of Synopsys by 315.1% in the third quarter. CreativeOne Wealth LLC now owns 2,250 shares of the semiconductor company’s stock valued at $1,139,000 after buying an additional 1,708 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Synopsys in the 3rd quarter valued at $11,441,000. Finally, Captrust Financial Advisors lifted its position in Synopsys by 8.1% during the third quarter. Captrust Financial Advisors now owns 4,994 shares of the semiconductor company’s stock worth $2,529,000 after purchasing an additional 374 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several research analyst reports. Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Morgan Stanley cut their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Robert W. Baird lowered their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Stock Down 1.9 %

NASDAQ:SNPS opened at $437.95 on Friday. Synopsys, Inc. has a twelve month low of $425.73 and a twelve month high of $624.80. The company has a fifty day moving average of $485.62 and a 200-day moving average of $505.55. The firm has a market capitalization of $67.72 billion, a P/E ratio of 30.16, a P/E/G ratio of 3.23 and a beta of 1.16.

Insider Activity

In other news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,909 shares of company stock worth $22,794,835. Company insiders own 0.62% of the company’s stock.

Synopsys 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.