Rafferty Asset Management LLC Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

Rafferty Asset Management LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 79,729 shares of the semiconductor company’s stock after purchasing an additional 3,323 shares during the quarter. Rafferty Asset Management LLC owned 0.05% of Synopsys worth $38,697,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Synopsys by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after purchasing an additional 120,575 shares during the last quarter. Capital World Investors grew its stake in shares of Synopsys by 1.6% in the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company’s stock valued at $3,533,526,000 after purchasing an additional 114,893 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Synopsys by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock valued at $2,864,933,000 after purchasing an additional 1,045,326 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock valued at $1,625,230,000 after purchasing an additional 75,298 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Synopsys by 26.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock valued at $916,441,000 after purchasing an additional 391,681 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction 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 directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. The trade was a 13.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This trade 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 currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on SNPS shares. Morgan Stanley reduced 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. Stifel Nicolaus set a $550.00 price target on Synopsys in a report on Monday, April 28th. Bank of America reduced their price target on Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Finally, Wells Fargo & Company reduced their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $613.43.

Synopsys Stock Performance

Shares of SNPS stock opened at $517.66 on Thursday. The stock has a fifty day moving average price of $441.07 and a 200 day moving average price of $489.43. The stock has a market cap of $80.04 billion, a PE ratio of 35.65, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80.

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.