Jackson Square Partners LLC Raises Stake in Synopsys, Inc. (NASDAQ:SNPS)

Jackson Square Partners LLC raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 26,252.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,176 shares of the semiconductor company’s stock after purchasing an additional 13,126 shares during the period. Jackson Square Partners LLC’s holdings in Synopsys were worth $6,562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Synopsys by 1.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,202 shares of the semiconductor company’s stock valued at $7,378,000 after acquiring an additional 225 shares during the last quarter. Zions Bancorporation N.A. increased its stake in Synopsys by 7.1% in the fourth quarter. Zions Bancorporation N.A. now owns 469 shares of the semiconductor company’s stock valued at $228,000 after purchasing an additional 31 shares during the last quarter. Ashton Thomas Securities LLC raised its holdings in Synopsys by 1.2% during the fourth quarter. Ashton Thomas Securities LLC now owns 1,866 shares of the semiconductor company’s stock worth $906,000 after purchasing an additional 23 shares in the last quarter. Princeton Capital Management LLC boosted its holdings in shares of Synopsys by 25.9% in the 4th quarter. Princeton Capital Management LLC now owns 1,075 shares of the semiconductor company’s stock valued at $522,000 after buying an additional 221 shares in the last quarter. Finally, Napean Trading & Investment Co Singapore PTE Ltd lifted its position in Synopsys by 7.6% in the fourth quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 30,687 shares of the semiconductor company’s stock valued at $14,894,000 after acquiring an additional 2,176 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

NASDAQ:SNPS opened at $457.77 on Tuesday. The stock has a market capitalization of $70.78 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The stock has a fifty day moving average price of $490.60 and a two-hundred day moving average price of $506.31.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,909 shares of company stock valued at $22,794,835. Corporate insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

SNPS has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Wells Fargo & Company lowered their target price 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. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Morgan Stanley dropped their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

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.