Principal Financial Group Inc. Has $125.83 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Principal Financial Group Inc. increased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 4.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 259,257 shares of the semiconductor company’s stock after purchasing an additional 11,291 shares during the quarter. Principal Financial Group Inc.’s holdings in Synopsys were worth $125,833,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sierra Ocean LLC acquired a new stake in Synopsys in the 4th quarter worth approximately $39,000. Meridiem Investment Management Ltd. lifted its holdings in Synopsys by 13.1% in the 4th quarter. Meridiem Investment Management Ltd. now owns 557,174 shares of the semiconductor company’s stock worth $270,322,000 after purchasing an additional 64,322 shares during the last quarter. WD Rutherford LLC lifted its holdings in Synopsys by 6.0% in the 4th quarter. WD Rutherford LLC now owns 1,745 shares of the semiconductor company’s stock worth $847,000 after purchasing an additional 98 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in Synopsys by 1.0% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 4,542 shares of the semiconductor company’s stock worth $2,205,000 after purchasing an additional 46 shares during the last quarter. Finally, Secured Retirement Advisors LLC lifted its holdings in Synopsys by 9.8% in the 4th quarter. Secured Retirement Advisors LLC now owns 3,979 shares of the semiconductor company’s stock worth $1,931,000 after purchasing an additional 355 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on 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 sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SNPS. Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Mizuho began coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. Wells Fargo & Company cut their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Piper Sandler cut their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Finally, Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Trading Up 0.5 %

Shares of NASDAQ SNPS opened at $525.00 on Wednesday. The business has a fifty day simple moving average of $511.06 and a 200 day simple moving average of $517.59. The firm has a market capitalization of $81.15 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38.

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.