Hudson Bay Capital Management LP Has $20.39 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Hudson Bay Capital Management LP raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 149.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,008 shares of the semiconductor company’s stock after acquiring an additional 25,143 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Synopsys were worth $20,389,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new position in Synopsys during the 4th quarter worth $583,608,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Synopsys by 21.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock valued at $2,864,933,000 after acquiring an additional 1,045,326 shares during the period. Capital Research Global Investors acquired a new position in shares of Synopsys during the fourth quarter valued at $239,864,000. Raymond James Financial Inc. bought a new position in Synopsys in the fourth quarter valued at about $199,065,000. Finally, Ameriprise Financial Inc. increased its position in Synopsys by 26.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock worth $916,441,000 after purchasing an additional 391,681 shares during the period. 85.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SNPS shares. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research note on Monday, April 28th. Mizuho reduced their price objective on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Needham & Company LLC reiterated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus target price of $613.43.

Insider Buying and Selling

In other news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

Synopsys Stock Performance

Shares of SNPS stock opened at $482.69 on Friday. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. The company’s 50 day moving average price is $437.18 and its two-hundred day moving average price is $489.07. The company has a market capitalization of $74.63 billion, a P/E ratio of 33.24, a price-to-earnings-growth 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.