Alecta Tjanstepension Omsesidigt Purchases New Position in Synopsys, Inc. (NASDAQ:SNPS)

Alecta Tjanstepension Omsesidigt acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 216,000 shares of the semiconductor company’s stock, valued at approximately $104,741,000. Alecta Tjanstepension Omsesidigt owned approximately 0.14% of Synopsys as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SNPS. Kieckhefer Group LLC purchased a new position in shares of Synopsys during the fourth quarter valued at $27,000. Whipplewood Advisors LLC purchased a new position in Synopsys during the 4th quarter valued at about $33,000. Hazlett Burt & Watson Inc. raised its holdings in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Synopsys during the fourth quarter valued at approximately $39,000. Finally, Princeton Global Asset Management LLC purchased a new position in Synopsys during the third quarter valued at approximately $44,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Trading Up 2.7 %

SNPS opened at $470.46 on Thursday. The firm has a market capitalization of $72.72 billion, a PE ratio of 32.40, a P/E/G ratio of 3.23 and a beta of 1.12. The firm has a 50 day moving average of $507.61 and a two-hundred day moving average of $516.56. Synopsys, Inc. has a 12-month low of $457.00 and a 12-month high of $624.80.

Analyst Ratings Changes

SNPS has been the topic of several recent research reports. Redburn Atlantic initiated coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. Morgan Stanley lowered their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday. Piper Sandler cut their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Rosenblatt Securities restated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $639.58.

Insider Buying and Selling at Synopsys

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 value of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.62% of the stock is currently owned by corporate insiders.

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.