Invesco Ltd. Acquires 68,766 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Invesco Ltd. boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 5.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,381,496 shares of the semiconductor company’s stock after purchasing an additional 68,766 shares during the quarter. Invesco Ltd. owned approximately 0.89% of Synopsys worth $670,523,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SNPS. Kieckhefer Group LLC purchased a new position in shares of Synopsys in the fourth quarter worth $27,000. Whipplewood Advisors LLC purchased a new stake in Synopsys in the 4th quarter worth $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Synopsys during the 4th quarter valued at about $34,000. Sierra Ocean LLC purchased a new position in shares of Synopsys during the fourth quarter valued at about $39,000. Finally, Hazlett Burt & Watson Inc. increased its holdings in shares of Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 20 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several research analyst reports. Piper Sandler cut their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Morgan Stanley cut their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Transactions at Synopsys

In related news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated Thursday, March 6th. The shares were 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. This trade represents a 11.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is currently owned by company insiders.

Synopsys Price Performance

Synopsys stock opened at $380.90 on Tuesday. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The company’s 50-day moving average is $471.23 and its 200 day moving average is $502.20. The firm has a market capitalization of $58.89 billion, a P/E ratio of 26.23, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23.

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.