Impax Asset Management Group plc Acquires 344 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Impax Asset Management Group plc lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 491,067 shares of the semiconductor company’s stock after acquiring an additional 344 shares during the period. Impax Asset Management Group plc owned approximately 0.32% of Synopsys worth $238,344,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SNPS. Kieckhefer Group LLC purchased a new stake in Synopsys during the 4th quarter worth about $27,000. Hazlett Burt & Watson Inc. increased its position in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares during the period. Sierra Ocean LLC purchased a new stake in shares of Synopsys in the fourth quarter worth about $39,000. Princeton Global Asset Management LLC bought a new position in shares of Synopsys in the third quarter valued at approximately $44,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Synopsys during the fourth quarter valued at approximately $51,000. 85.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s 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 transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

Synopsys Trading Down 3.9 %

Shares of NASDAQ SNPS opened at $474.84 on Monday. The stock’s 50-day moving average is $510.21 and its 200 day moving average is $517.67. The stock has a market cap of $73.40 billion, a price-to-earnings ratio of 32.70, a P/E/G ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SNPS shares. Loop Capital began coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Piper Sandler lowered their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Robert W. Baird reduced their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company dropped their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

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.