North Star Asset Management Inc. Buys 1,598 Shares of Synopsys, Inc. (NASDAQ:SNPS)

North Star Asset Management Inc. lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,188 shares of the semiconductor company’s stock after purchasing an additional 1,598 shares during the period. Synopsys comprises about 1.3% of North Star Asset Management Inc.’s investment portfolio, making the stock its 23rd largest position. North Star Asset Management Inc.’s holdings in Synopsys were worth $28,242,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new stake in Synopsys in the fourth quarter worth about $33,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Synopsys in the fourth quarter worth about $34,000. Sierra Ocean LLC purchased a new stake in Synopsys in the fourth quarter worth about $39,000. Hazlett Burt & Watson Inc. lifted its stake in Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 20 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in Synopsys by 50.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 33 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now 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. Corporate insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Shares of Synopsys stock opened at $498.85 on Friday. The company has a market capitalization of $77.13 billion, a PE ratio of 34.36, a P/E/G ratio of 3.23 and a beta of 1.16. The company has a 50-day simple moving average of $450.97 and a two-hundred day simple moving average of $488.91. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research note on Monday, April 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Finally, KeyCorp set a $575.00 target price on shares of Synopsys and gave the stock an “overweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $614.86.

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.