Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,758,759 shares of the semiconductor company’s stock after acquiring an additional 60,121 shares during the quarter. Synopsys accounts for about 0.9% of Pictet Asset Management Holding SA’s investment portfolio, making the stock its 17th largest holding. Pictet Asset Management Holding SA owned approximately 1.14% of Synopsys worth $853,631,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Synopsys during the fourth quarter valued at about $583,608,000. Raymond James Financial Inc. acquired a new stake in Synopsys during the 4th quarter valued at approximately $199,065,000. Proficio Capital Partners LLC increased its holdings in Synopsys by 71,578.5% during the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock worth $187,517,000 after purchasing an additional 385,808 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after purchasing an additional 257,526 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt purchased a new position in shares of Synopsys during the 4th quarter valued at approximately $104,741,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SNPS shares. Needham & Company LLC restated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Robert W. Baird dropped their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Wells Fargo & Company lowered their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Finally, Redburn Atlantic initiated coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $638.58.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business’s 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 transaction, the insider now owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by company insiders.

Synopsys Price Performance

Shares of SNPS opened at $446.23 on Friday. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80. The stock has a fifty day moving average price of $487.40 and a 200 day moving average price of $505.45. The company has a market cap of $69.00 billion, a P/E ratio of 30.73, a PEG ratio of 3.23 and a beta of 1.16.

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.