Bell Asset Management Ltd Invests $4.75 Million in Synopsys, Inc. (NASDAQ:SNPS)

Bell Asset Management Ltd purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,786 shares of the semiconductor company’s stock, valued at approximately $4,750,000.

Several other institutional investors have also added to or reduced their stakes in SNPS. Kieckhefer Group LLC bought a new stake in Synopsys in the fourth quarter valued at $27,000. Whipplewood Advisors LLC purchased a new stake in Synopsys in the fourth quarter worth about $33,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Synopsys during the 4th quarter worth approximately $34,000. Sierra Ocean LLC bought a new position in shares of Synopsys in the 4th quarter worth approximately $39,000. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction 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 completion of the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction 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. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,909 shares of company stock valued at $22,794,835. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Redburn Atlantic began coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Wells Fargo & Company cut their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Morgan Stanley dropped their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Stock Down 7.1 %

Synopsys stock opened at $388.13 on Monday. The business has a 50-day simple moving average of $473.83 and a two-hundred day simple moving average of $503.14. Synopsys, Inc. has a 52-week low of $358.15 and a 52-week high of $624.80. The company has a market cap of $60.01 billion, a P/E ratio of 26.73, a P/E/G ratio of 3.23 and a beta of 1.23.

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.