Marathon Trading Investment Management LLC Invests $971,000 in Synopsys, Inc. (NASDAQ:SNPS)

by · The Markets Daily

Marathon Trading Investment Management LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS – Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,000 shares of the semiconductor company’s stock, valued at approximately $971,000.

A number of other large investors also recently modified their holdings of SNPS. Parnassus Investments LLC bought a new position in shares of Synopsys during the third quarter valued at about $633,469,000. Edgewood Management LLC grew its position in Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Synopsys in the 4th quarter worth approximately $199,065,000. Proficio Capital Partners LLC lifted its position in Synopsys by 71,578.5% in the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after purchasing an additional 385,808 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its stake in shares of Synopsys by 120.2% during the third 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. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 value of $6,979,616.10. Following the sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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. Insiders sold a total of 47,909 shares of company stock worth $22,794,835 in the last three months. 0.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SNPS has been the topic of several analyst reports. Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Wells Fargo & Company cut their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Loop Capital initiated coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Finally, Piper Sandler cut their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $638.58.

Check Out Our Latest Stock Report on Synopsys

Synopsys Trading Down 4.7 %

SNPS opened at $429.85 on Tuesday. Synopsys, Inc. has a 12-month low of $427.30 and a 12-month high of $624.80. The company has a market cap of $66.46 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The stock has a fifty day simple moving average of $500.07 and a two-hundred day simple moving average of $510.83.

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.

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