Ethic Inc. Buys 4,982 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Ethic Inc. boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 42.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,610 shares of the semiconductor company’s stock after purchasing an additional 4,982 shares during the quarter. Ethic Inc.’s holdings in Synopsys were worth $8,062,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FORA Capital LLC acquired a new position in shares of Synopsys during the 4th quarter worth about $247,000. Deutsche Bank AG lifted its holdings in shares of Synopsys by 6.8% during the fourth quarter. Deutsche Bank AG now owns 807,355 shares of the semiconductor company’s stock worth $391,858,000 after buying an additional 51,733 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Synopsys by 3.4% during the fourth quarter. EP Wealth Advisors LLC now owns 2,111 shares of the semiconductor company’s stock worth $1,025,000 after buying an additional 70 shares during the last quarter. Concentric Capital Strategies LP acquired a new stake in shares of Synopsys in the fourth quarter worth $4,576,000. Finally, Cetera Investment Advisers increased its position in Synopsys by 3.7% during the fourth quarter. Cetera Investment Advisers now owns 28,548 shares of the semiconductor company’s stock worth $13,856,000 after acquiring an additional 1,018 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNPS. Wells Fargo & Company reduced their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Piper Sandler reduced their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Bank of America reduced their price objective on Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $613.43.

Synopsys Trading Down 0.4 %

NASDAQ SNPS opened at $482.69 on Friday. The firm has a market cap of $74.63 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The company has a 50 day moving average of $437.18 and a 200-day moving average of $489.10.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated 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 directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

About Synopsys

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.