Norden Group LLC Invests $235,000 in Synopsys, Inc. (NASDAQ:SNPS)

Norden Group LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 456 shares of the semiconductor company’s stock, valued at approximately $235,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Ameriprise Financial Inc. grew its holdings in shares of Synopsys by 20.3% during the third quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock valued at $925,744,000 after purchasing an additional 344,430 shares during the last quarter. FMR LLC increased its position in Synopsys by 8.9% in the third quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock worth $1,850,594,000 after buying an additional 330,206 shares during the period. Wellington Management Group LLP lifted its stake in Synopsys by 228.8% in the third quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock valued at $177,517,000 after buying an additional 269,130 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Synopsys by 25.8% during the fourth quarter. Van ECK Associates Corp now owns 929,376 shares of the semiconductor company’s stock worth $478,545,000 after acquiring an additional 190,330 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Synopsys by 52,466.9% in the fourth quarter. International Assets Investment Management LLC now owns 176,099 shares of the semiconductor company’s stock valued at $90,675,000 after acquiring an additional 175,764 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the sale, the chief executive officer now directly owns 61,863 shares in the company, valued at $35,726,501.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the transaction, the chief executive officer now owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Roy Vallee sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $11,453,200. The disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock valued at $15,464,992 in the last three months. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 target price on shares of Synopsys in a research note on Thursday, March 21st. Needham & Company LLC restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Friday, March 22nd. Robert W. Baird lifted their price objective on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Finally, Piper Sandler started coverage on Synopsys in a report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price target on the stock. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $601.00.

Synopsys Stock Performance

SNPS stock opened at $522.18 on Thursday. The stock has a market cap of $79.63 billion, a P/E ratio of 57.51, a P/E/G ratio of 3.10 and a beta of 1.07. The firm has a 50 day simple moving average of $562.79 and a 200 day simple moving average of $537.10. Synopsys, Inc. has a 52 week low of $365.46 and a 52 week high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the company posted $1.75 EPS. Synopsys’s revenue was up 21.1% on a year-over-year basis. Sell-side analysts predict that Synopsys, Inc. will post 9.78 EPS for the current year.

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.