IQ EQ FUND MANAGEMENT IRELAND Ltd Invests $298,000 in Synopsys, Inc. (NASDAQ:SNPS)

IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 615 shares of the semiconductor company’s stock, valued at approximately $298,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. grew its position in shares of Synopsys by 13.9% in the third quarter. D.A. Davidson & CO. now owns 4,118 shares of the semiconductor company’s stock valued at $2,085,000 after purchasing an additional 502 shares during the last quarter. Townsquare Capital LLC grew its holdings in Synopsys by 9.8% in the 3rd quarter. Townsquare Capital LLC now owns 5,700 shares of the semiconductor company’s stock valued at $2,886,000 after buying an additional 508 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Synopsys by 150.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 35,434 shares of the semiconductor company’s stock worth $17,943,000 after buying an additional 21,304 shares during the period. CreativeOne Wealth LLC lifted its holdings in shares of Synopsys by 315.1% during the third quarter. CreativeOne Wealth LLC now owns 2,250 shares of the semiconductor company’s stock worth $1,139,000 after buying an additional 1,708 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Synopsys in the third quarter valued at approximately $11,441,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Price Performance

Synopsys stock opened at $437.95 on Friday. 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. The stock has a fifty day moving average price of $485.62 and a two-hundred day moving average price of $505.27. Synopsys, Inc. has a 52-week low of $425.73 and a 52-week high of $624.80.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is owned by insiders.

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.