Synopsys, Inc. (NASDAQ:SNPS) Stock Position Lifted by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 54.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 310,616 shares of the semiconductor company’s stock after buying an additional 109,785 shares during the quarter. Synopsys comprises 1.3% of OMERS ADMINISTRATION Corp’s portfolio, making the stock its 23rd biggest holding. OMERS ADMINISTRATION Corp owned 0.20% of Synopsys worth $150,761,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new position in shares of Synopsys during the fourth quarter worth approximately $27,000. Whipplewood Advisors LLC acquired a new position in Synopsys during the 4th quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Synopsys in the 4th quarter valued at $34,000. Sierra Ocean LLC bought a new stake in Synopsys in the 4th quarter valued at $39,000. Finally, Hazlett Burt & Watson Inc. grew its position in Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Morgan Stanley cut their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Finally, Wells Fargo & Company decreased their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $613.43.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 11.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s 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 $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. Insiders own 0.62% of the company’s stock.

Synopsys Stock Up 4.7%

Shares of SNPS stock opened at $505.59 on Tuesday. The firm has a 50-day moving average price of $438.34 and a 200 day moving average price of $489.05. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The company has a market capitalization of $78.17 billion, a P/E ratio of 34.82, a P/E/G ratio of 3.23 and a beta of 1.16.

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.