Martin Currie Ltd. Acquires Shares of 28,664 Synopsys, Inc. (NASDAQ:SNPS)

Martin Currie Ltd. bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 28,664 shares of the semiconductor company’s stock, valued at approximately $13,912,000.

Several other hedge funds and other institutional investors have also modified their holdings of SNPS. Peloton Wealth Strategists lifted its position in Synopsys by 221.2% during the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after acquiring an additional 1,984 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Synopsys by 15.9% during the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after purchasing an additional 143,284 shares during the last quarter. James Hambro & Partners LLP boosted its stake in Synopsys by 30.9% in the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock valued at $97,725,000 after purchasing an additional 47,527 shares during the period. Orion Portfolio Solutions LLC grew its holdings in Synopsys by 53.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company’s stock valued at $13,304,000 after buying an additional 9,124 shares in the last quarter. Finally, Synovus Financial Corp increased its position in Synopsys by 199.2% during the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock worth $7,627,000 after buying an additional 10,028 shares during the period. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SNPS. Needham & Company LLC reissued a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Robert W. Baird decreased 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. Wells Fargo & Company dropped their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Redburn Atlantic assumed coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Finally, Piper Sandler dropped their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Synopsys has an average rating of “Moderate Buy” and an average target price of $638.58.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock worth $22,794,835 over the last quarter. Corporate insiders own 0.62% of the company’s stock.

Synopsys Stock Down 1.9 %

NASDAQ:SNPS opened at $437.95 on Friday. The firm has a market capitalization of $67.72 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The stock’s 50-day simple moving average is $485.62 and its 200 day simple moving average is $505.55. Synopsys, Inc. has a twelve month low of $425.73 and a twelve month high of $624.80.

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.