Synopsys, Inc. (NASDAQ:SNPS) Stake Lifted by Gardner Lewis Asset Management L P

Gardner Lewis Asset Management L P raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 6.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,798 shares of the semiconductor company’s stock after buying an additional 628 shares during the quarter. Synopsys makes up about 1.2% of Gardner Lewis Asset Management L P’s investment portfolio, making the stock its 29th largest holding. Gardner Lewis Asset Management L P’s holdings in Synopsys were worth $4,756,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caprock Group LLC grew its position in Synopsys by 0.5% in the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock valued at $1,803,000 after buying an additional 20 shares in the last quarter. Compagnie Lombard Odier SCmA increased its stake in shares of Synopsys by 1.1% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock valued at $898,000 after acquiring an additional 20 shares during the period. Edge Capital Group LLC raised its holdings in Synopsys by 1.2% during the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock worth $791,000 after purchasing an additional 20 shares in the last quarter. Barden Capital Management Inc. raised its holdings in Synopsys by 1.1% during the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock worth $889,000 after purchasing an additional 20 shares in the last quarter. Finally, Resurgent Financial Advisors LLC lifted its position in Synopsys by 2.8% in the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock worth $410,000 after purchasing an additional 22 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $446.23 on Friday. The stock has a market cap of $69.00 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 3.23 and a beta of 1.16. The business has a 50 day simple moving average of $487.40 and a 200 day simple moving average of $505.45. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80.

Insiders Place Their Bets

In related news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock valued at $22,794,835 over the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of research reports. Robert W. Baird dropped their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Finally, Morgan Stanley dropped their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average target price of $638.58.

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.