NEOS Investment Management LLC Acquires 2,470 Shares of Synopsys, Inc. (NASDAQ:SNPS)

NEOS Investment Management LLC grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 19.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,318 shares of the semiconductor company’s stock after acquiring an additional 2,470 shares during the period. NEOS Investment Management LLC’s holdings in Synopsys were worth $7,435,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Kieckhefer Group LLC bought a new position in shares of Synopsys during the 4th quarter worth $27,000. Whipplewood Advisors LLC purchased a new stake in Synopsys during the fourth quarter valued at about $33,000. Sierra Ocean LLC bought a new position in Synopsys during the fourth quarter worth about $39,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Synopsys in the fourth quarter worth about $51,000. Finally, Versant Capital Management Inc grew its stake in Synopsys by 109.3% in the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 59 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Piper Sandler reduced their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a 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 report on Thursday, December 5th. Morgan Stanley lowered 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. 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 research report on Thursday, February 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Transactions 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 value of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the sale, the chief executive officer now owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is currently owned by insiders.

Synopsys Price Performance

Shares of SNPS opened at $446.23 on Friday. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The stock has a 50 day simple moving average of $487.40 and a two-hundred day simple moving average of $505.45. The firm has a market cap of $69.00 billion, a P/E ratio of 30.73, a P/E/G ratio of 3.23 and a beta of 1.16.

Synopsys 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.