DSM Capital Partners LLC Has $59.29 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

DSM Capital Partners LLC increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 122,163 shares of the semiconductor company’s stock after buying an additional 2,790 shares during the quarter. Synopsys comprises approximately 0.9% of DSM Capital Partners LLC’s investment portfolio, making the stock its 23rd biggest position. DSM Capital Partners LLC’s holdings in Synopsys were worth $59,293,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SNPS. Kieckhefer Group LLC acquired a new position in shares of Synopsys during the fourth quarter worth $27,000. Hazlett Burt & Watson Inc. increased its holdings in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares in the last quarter. Sierra Ocean LLC acquired a new position in Synopsys in the 4th quarter worth about $39,000. Princeton Global Asset Management LLC bought a new position in Synopsys in the third quarter valued at about $44,000. Finally, nVerses Capital LLC acquired a new stake in shares of Synopsys during the third quarter valued at about $51,000. Institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SNPS shares. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. Robert W. Baird dropped their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Piper Sandler reduced their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Loop Capital started coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Stock Performance

Shares of SNPS stock opened at $525.00 on Wednesday. The company has a market cap of $81.15 billion, a P/E ratio of 36.16, a PEG ratio of 3.42 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The stock has a 50 day simple moving average of $511.06 and a two-hundred day simple moving average of $517.59.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was 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 directly owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.66% of the stock is currently owned by company insiders.

Synopsys Company 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.