Itau Unibanco Holding S.A. Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Itau Unibanco Holding S.A. acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 246 shares of the semiconductor company’s stock, valued at approximately $119,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Pine Valley Investments Ltd Liability Co grew its position in shares of Synopsys by 44.8% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 727 shares of the semiconductor company’s stock valued at $368,000 after buying an additional 225 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of Synopsys during the third quarter valued at approximately $253,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Synopsys in the 3rd quarter worth approximately $865,000. Synovus Financial Corp boosted its position in Synopsys by 199.2% during the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock valued at $7,627,000 after purchasing an additional 10,028 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its stake in Synopsys by 27.5% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 863 shares of the semiconductor company’s stock worth $434,000 after buying an additional 186 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 0.1 %

NASDAQ:SNPS opened at $459.36 on Friday. The business’s 50-day moving average price is $434.33 and its 200 day moving average price is $490.25. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The firm has a market cap of $71.03 billion, a P/E ratio of 31.64, a PEG ratio of 3.23 and a beta of 1.23.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the 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 sale, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America reduced their price target on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. KeyCorp decreased their price objective on Synopsys from $690.00 to $555.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $613.43.

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.