Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Rheos Capital Works Inc.

Rheos Capital Works Inc. grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 22.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,000 shares of the semiconductor company’s stock after acquiring an additional 9,000 shares during the quarter. Synopsys makes up approximately 1.3% of Rheos Capital Works Inc.’s holdings, making the stock its 24th largest position. Rheos Capital Works Inc.’s holdings in Synopsys were worth $23,783,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SNPS. State Street Corp raised its position in shares of Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after purchasing an additional 119,057 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Synopsys by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after acquiring an additional 61,799 shares during the period. Edgewood Management LLC grew its position in shares of Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after acquiring an additional 335,993 shares during the period. Finally, Parnassus Investments LLC acquired a new position in Synopsys during the 3rd quarter valued at about $633,469,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SNPS shares. Berenberg Bank started coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Wells Fargo & Company decreased their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Wednesday, December 4th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Stock Down 0.2 %

SNPS opened at $525.48 on Monday. The firm has a market cap of $81.23 billion, a PE ratio of 36.19, a P/E/G ratio of 3.44 and a beta of 1.12. The business has a fifty day simple moving average of $516.26 and a 200-day simple moving average of $519.95. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by company insiders.

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.