American Century Companies Inc. Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

American Century Companies Inc. boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 38.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 571,474 shares of the semiconductor company’s stock after buying an additional 159,344 shares during the period. American Century Companies Inc.’s holdings in Synopsys were worth $277,371,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Mizuho Securities USA LLC increased its stake in Synopsys by 46.5% in the 4th quarter. Mizuho Securities USA LLC now owns 14,559 shares of the semiconductor company’s stock worth $7,066,000 after purchasing an additional 4,624 shares during the period. Virtu Financial LLC bought a new stake in shares of Synopsys in the 4th quarter worth approximately $4,458,000. Bancreek Capital Management LP bought a new stake in shares of Synopsys in the 4th quarter worth approximately $3,827,000. Mindset Wealth Management LLC grew its position in shares of Synopsys by 15.1% in the 4th quarter. Mindset Wealth Management LLC now owns 504 shares of the semiconductor company’s stock worth $245,000 after buying an additional 66 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its position in shares of Synopsys by 14.4% in the 4th quarter. TD Private Client Wealth LLC now owns 2,114 shares of the semiconductor company’s stock worth $1,026,000 after buying an additional 266 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SNPS. Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Wells Fargo & Company cut their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Piper Sandler cut their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Trading Down 0.3 %

NASDAQ SNPS opened at $448.60 on Friday. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80. The stock has a market cap of $69.36 billion, a P/E ratio of 30.90, a P/E/G ratio of 3.23 and a beta of 1.16. The stock’s fifty day moving average price is $491.19 and its 200-day moving average price is $506.06.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following 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 represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86 % 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 valued at $22,794,835. Insiders own 0.62% of the company’s stock.

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.