NorthRock Partners LLC Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

NorthRock Partners LLC acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,318 shares of the semiconductor company’s stock, valued at approximately $640,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after buying an additional 120,575 shares during the period. Capital World Investors grew its stake in Synopsys by 1.6% during the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company’s stock worth $3,533,526,000 after buying an additional 114,893 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock worth $2,864,933,000 after acquiring an additional 1,045,326 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock valued at $1,625,230,000 after acquiring an additional 75,298 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock valued at $916,441,000 after acquiring an additional 391,681 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on SNPS. KeyCorp lowered their price target on Synopsys from $690.00 to $555.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company lowered their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Bank of America dropped their target price on Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Mizuho decreased their price target on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Finally, Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research note on Monday, April 28th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $613.43.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys 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 sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.

Synopsys Trading Down 0.6%

SNPS stock opened at $514.48 on Friday. The company has a market capitalization of $79.55 billion, a P/E ratio of 35.43, a PEG ratio of 3.23 and a beta of 1.16. The firm has a 50 day simple moving average of $442.76 and a 200-day simple moving average of $489.56. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80.

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.