William Blair Investment Management LLC Acquires 20,830 Shares of Synopsys, Inc. (NASDAQ:SNPS)

William Blair Investment Management LLC increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 16.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,636 shares of the semiconductor company’s stock after acquiring an additional 20,830 shares during the period. William Blair Investment Management LLC owned approximately 0.10% of Synopsys worth $65,153,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Wedmont Private Capital boosted its stake in Synopsys by 0.8% during the second quarter. Wedmont Private Capital now owns 2,989 shares of the semiconductor company’s stock worth $1,357,000 after acquiring an additional 23 shares in the last quarter. Level Four Advisory Services LLC boosted its stake in Synopsys by 2.6% during the second quarter. Level Four Advisory Services LLC now owns 895 shares of the semiconductor company’s stock worth $390,000 after acquiring an additional 23 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Synopsys by 6.3% during the second quarter. EverSource Wealth Advisors LLC now owns 436 shares of the semiconductor company’s stock worth $190,000 after acquiring an additional 26 shares in the last quarter. Centaurus Financial Inc. lifted its stake in shares of Synopsys by 5.4% in the first quarter. Centaurus Financial Inc. now owns 527 shares of the semiconductor company’s stock worth $204,000 after buying an additional 27 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its stake in shares of Synopsys by 1.3% in the first quarter. Checchi Capital Advisers LLC now owns 2,126 shares of the semiconductor company’s stock worth $821,000 after buying an additional 28 shares in the last quarter. Institutional investors own 84.12% of the company’s stock.

Insider Activity

In other Synopsys news, insider John F. Runkel, Jr. sold 2,507 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $454.35, for a total transaction of $1,139,055.45. Following the completion of the sale, the insider now directly owns 24,697 shares of the company’s stock, valued at $11,221,081.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Synopsys news, CAO Sudhindra Kankanwadi sold 5,100 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $460.75, for a total transaction of $2,349,825.00. Following the completion of the sale, the chief accounting officer now directly owns 16,793 shares of the company’s stock, valued at $7,737,374.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John F. Runkel, Jr. sold 2,507 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $454.35, for a total transaction of $1,139,055.45. Following the sale, the insider now directly owns 24,697 shares of the company’s stock, valued at $11,221,081.95. The disclosure for this sale can be found here. Insiders sold 17,469 shares of company stock valued at $8,244,769 over the last three months. Insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SNPS shares. HSBC started coverage on shares of Synopsys in a research note on Friday, September 29th. They issued a “buy” rating and a $551.00 target price on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $485.00 target price on shares of Synopsys in a research note on Wednesday, August 23rd. Morgan Stanley started coverage on shares of Synopsys in a research note on Friday, November 10th. They issued an “overweight” rating and a $600.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Synopsys from $445.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Finally, Bank of America upped their target price on shares of Synopsys from $510.00 to $600.00 in a research note on Tuesday, October 10th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Synopsys currently has a consensus rating of “Buy” and a consensus target price of $506.45.

Synopsys Stock Up 0.6 %

SNPS opened at $544.74 on Tuesday. The firm has a 50 day moving average price of $478.70 and a 200-day moving average price of $449.84. Synopsys, Inc. has a twelve month low of $312.25 and a twelve month high of $545.57. The stock has a market capitalization of $82.85 billion, a price-to-earnings ratio of 81.19, a PEG ratio of 3.62 and a beta of 1.08.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. 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.