Los Angeles Capital Management LLC Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

Los Angeles Capital Management LLC boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 167.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,138 shares of the semiconductor company’s stock after purchasing an additional 58,980 shares during the quarter. Los Angeles Capital Management LLC owned about 0.06% of Synopsys worth $45,691,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SNPS. Parnassus Investments LLC acquired a new position in Synopsys during the third quarter valued at approximately $633,469,000. Edgewood Management LLC lifted its position in shares of Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after purchasing an additional 487,025 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after purchasing an additional 335,993 shares in the last quarter. Impax Asset Management Group plc lifted its position in shares of Synopsys by 120.2% during the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after purchasing an additional 267,836 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Synopsys by 32.5% during the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after purchasing an additional 257,526 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SNPS. Robert W. Baird reduced their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Wells Fargo & Company cut their price target on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Finally, Loop Capital initiated coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $637.50.

Synopsys Stock Performance

Synopsys stock opened at $470.08 on Tuesday. The company has a 50-day simple moving average of $509.17 and a 200-day simple moving average of $517.36. The firm has a market capitalization of $72.66 billion, a P/E ratio of 32.37, a P/E/G ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a one year low of $457.52 and a one year high of $624.80.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were 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 owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.

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.