Talos Asset Management LP Buys New Shares in Synopsys, Inc. (NASDAQ:SNPS)

Talos Asset Management LP bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 34,700 shares of the semiconductor company’s stock, valued at approximately $16,842,000. Synopsys comprises about 4.0% of Talos Asset Management LP’s investment portfolio, making the stock its 11th biggest holding.

Several other institutional investors have also recently added to or reduced their stakes in SNPS. Edgewood Management LLC increased its stake in Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after purchasing an additional 487,025 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Synopsys during the fourth quarter valued at about $199,065,000. Proficio Capital Partners LLC grew its position in Synopsys by 71,578.5% during the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after acquiring an additional 385,808 shares during the period. Wellington Management Group LLP grew its position in Synopsys by 32.5% during the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after acquiring an additional 257,526 shares during the period. Finally, Alecta Tjanstepension Omsesidigt purchased a new stake in Synopsys during the fourth quarter valued at about $104,741,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SNPS shares. Wells Fargo & Company lowered their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Piper Sandler lowered their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Stock Performance

NASDAQ:SNPS opened at $450.28 on Thursday. Synopsys, Inc. has a one year low of $425.73 and a one year high of $624.80. The business’s 50-day simple moving average is $493.11 and its 200 day simple moving average is $506.95. The stock has a market cap of $69.62 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

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.