MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Synopsys, Inc. (NASDAQ:SNPS – Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 11,948 shares of the semiconductor company’s stock, valued at approximately $6,050,000.
A number of other large investors have also recently modified their holdings of SNPS. Redhawk Wealth Advisors Inc. lifted its holdings in Synopsys by 3.2% in the third quarter. Redhawk Wealth Advisors Inc. now owns 5,797 shares of the semiconductor company’s stock worth $2,936,000 after buying an additional 182 shares during the period. Sunflower Bank N.A. lifted its stake in shares of Synopsys by 25.1% in the 3rd quarter. Sunflower Bank N.A. now owns 499 shares of the semiconductor company’s stock valued at $253,000 after purchasing an additional 100 shares during the period. Compagnie Lombard Odier SCmA boosted its position in shares of Synopsys by 35.8% during the third quarter. Compagnie Lombard Odier SCmA now owns 1,830 shares of the semiconductor company’s stock valued at $927,000 after purchasing an additional 482 shares in the last quarter. McGlone Suttner Wealth Management Inc. grew its stake in Synopsys by 51.5% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 1,251 shares of the semiconductor company’s stock worth $633,000 after purchasing an additional 425 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in Synopsys by 170.0% in the third quarter. Exchange Traded Concepts LLC now owns 7,739 shares of the semiconductor company’s stock worth $3,919,000 after purchasing an additional 4,873 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.
Synopsys Price Performance
Shares of NASDAQ:SNPS opened at $539.92 on Monday. Synopsys, Inc. has a 1 year low of $448.91 and a 1 year high of $629.38. The company has a market cap of $82.94 billion, a P/E ratio of 56.01, a PEG ratio of 3.64 and a beta of 1.08. The stock’s fifty day moving average price is $510.84 and its 200-day moving average price is $549.61.
Wall Street Analyst Weigh In
SNPS has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Robert W. Baird boosted their price target on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Piper Sandler reiterated an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $642.22.
Get Our Latest Research Report on SNPS
Insiders Place Their Bets
In other news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.66% of the stock is currently 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.
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