Dorsey & Whitney Trust CO LLC Buys 302 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Dorsey & Whitney Trust CO LLC lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 31.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,266 shares of the semiconductor company’s stock after purchasing an additional 302 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Synopsys were worth $614,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNPS. Impax Asset Management Group plc raised its stake in shares of Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after purchasing an additional 267,836 shares during the period. Concurrent Investment Advisors LLC grew its position in Synopsys by 115.5% during the third quarter. Concurrent Investment Advisors LLC now owns 929 shares of the semiconductor company’s stock worth $471,000 after buying an additional 498 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in Synopsys during the third quarter worth about $1,138,000. Verdence Capital Advisors LLC grew its position in Synopsys by 32.5% during the third quarter. Verdence Capital Advisors LLC now owns 567 shares of the semiconductor company’s stock worth $287,000 after buying an additional 139 shares in the last quarter. Finally, Assetmark Inc. grew its position in Synopsys by 4.3% during the third quarter. Assetmark Inc. now owns 15,903 shares of the semiconductor company’s stock worth $8,053,000 after buying an additional 650 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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 $32,890,077.50. This trade represents a 13.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm’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 transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

Synopsys Price Performance

Shares of SNPS stock opened at $450.88 on Monday. The stock has a market capitalization of $69.72 billion, a PE ratio of 31.05, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1-year low of $429.77 and a 1-year high of $624.80. The business has a 50-day moving average of $501.21 and a 200 day moving average of $511.66.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SNPS shares. Needham & Company LLC restated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Piper Sandler reduced their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Loop Capital started coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Morgan Stanley reduced their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

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.