Sone Capital Management LLC Acquires New Shares in Synopsys, Inc. (NASDAQ:SNPS)

Sone Capital Management LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 35,264 shares of the semiconductor company’s stock, valued at approximately $17,116,000. Synopsys makes up 2.2% of Sone Capital Management LLC’s investment portfolio, making the stock its 9th biggest holding.

Several other large investors also recently bought and sold shares of SNPS. James Hambro & Partners LLP boosted its position in shares of Synopsys by 30.9% in the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock worth $97,725,000 after buying an additional 47,527 shares in the last quarter. Janney Capital Management LLC purchased a new position in Synopsys during the 4th quarter valued at about $6,082,000. Artemis Investment Management LLP raised its position in Synopsys by 4.5% during the fourth quarter. Artemis Investment Management LLP now owns 24,878 shares of the semiconductor company’s stock worth $12,075,000 after acquiring an additional 1,081 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of Synopsys by 33.8% in the fourth quarter. Fiera Capital Corp now owns 196,391 shares of the semiconductor company’s stock valued at $95,320,000 after purchasing an additional 49,653 shares in the last quarter. Finally, Bancreek Capital Management LP acquired a new stake in shares of Synopsys in the fourth quarter valued at approximately $3,827,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

SNPS opened at $514.43 on Monday. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The company’s 50 day simple moving average is $444.44 and its 200 day simple moving average is $488.96. The stock has a market capitalization of $79.54 billion, a PE ratio of 35.43, a P/E/G ratio of 3.23 and a beta of 1.16.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the company’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 sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This represents a 13.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction 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 completion of the sale, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This represents a 11.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Bank of America dropped their price objective on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Morgan Stanley cut their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. KeyCorp decreased their price objective on Synopsys from $690.00 to $555.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Mizuho cut their target price on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and a consensus target price of $613.43.

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.