MetLife Investment Management LLC Purchases 591 Shares of Synopsys, Inc. (NASDAQ:SNPS)

by · The Markets Daily

MetLife Investment Management LLC lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 1.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 47,345 shares of the semiconductor company’s stock after purchasing an additional 591 shares during the period. MetLife Investment Management LLC’s holdings in Synopsys were worth $22,979,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Kieckhefer Group LLC bought a new position in shares of Synopsys in the fourth quarter worth about $27,000. Whipplewood Advisors LLC bought a new position in Synopsys in the 4th quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Synopsys in the 4th quarter valued at $34,000. Sierra Ocean LLC acquired a new position in shares of Synopsys during the fourth quarter valued at $39,000. Finally, Hazlett Burt & Watson Inc. increased its position in Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 20 shares during the period. 85.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SNPS. Needham & Company LLC reiterated a “buy” rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Morgan Stanley cut their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Mizuho cut their target price on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Bank of America lowered their price target on Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, KeyCorp cut their target price on shares of Synopsys from $690.00 to $555.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $618.31.

Read Our Latest Research Report on SNPS

Synopsys Stock Down 0.6 %

NASDAQ SNPS opened at $413.32 on Friday. The firm’s 50 day moving average is $446.35 and its 200-day moving average is $495.10. The company has a market capitalization of $63.91 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80.

Insider Activity at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares of the company’s stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s 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 transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % 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.

Synopsys Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding SNPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synopsys, Inc. (NASDAQ:SNPS – Free Report).