Mitsubishi UFJ Trust & Banking Corp Acquires 5,773 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 101,963 shares of the semiconductor company’s stock after buying an additional 5,773 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Synopsys were worth $49,489,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Kieckhefer Group LLC acquired a new stake in Synopsys in the fourth quarter worth $27,000. Whipplewood Advisors LLC bought a new position in shares of Synopsys during the 4th quarter worth about $33,000. Sierra Ocean LLC acquired a new stake in shares of Synopsys in the 4th quarter valued at about $39,000. Newbridge Financial Services Group Inc. bought a new stake in Synopsys in the 4th quarter valued at about $51,000. Finally, Versant Capital Management Inc raised its stake in Synopsys by 109.3% during the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after buying an additional 59 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

NASDAQ:SNPS opened at $457.23 on Wednesday. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80. The firm has a 50-day moving average price of $489.94 and a two-hundred day moving average price of $506.26. The firm has a market cap of $70.70 billion, a price-to-earnings ratio of 31.49, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock valued at $22,794,835 over the last three months. 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.