Korea Investment CORP Sells 510 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Korea Investment CORP decreased its position in Synopsys, Inc. (NASDAQ:SNPS) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,907 shares of the semiconductor company’s stock after selling 510 shares during the quarter. Korea Investment CORP’s holdings in Synopsys were worth $41,696,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Caprock Group LLC lifted its position in Synopsys by 0.5% during the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after acquiring an additional 20 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its position in shares of Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after purchasing an additional 20 shares during the last quarter. Edge Capital Group LLC boosted its stake in Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock valued at $791,000 after purchasing an additional 20 shares during the period. Barden Capital Management Inc. grew its holdings in Synopsys by 1.1% in the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock valued at $889,000 after buying an additional 20 shares during the last quarter. Finally, Resurgent Financial Advisors LLC increased its position in Synopsys by 2.8% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock worth $410,000 after buying an additional 22 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Price Performance

Shares of SNPS stock opened at $446.23 on Friday. The stock’s fifty day simple moving average is $487.40 and its 200 day simple moving average is $505.45. Synopsys, Inc. has a one year low of $425.73 and a one year high of $624.80. The firm has a market cap of $69.00 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 3.23 and a beta of 1.16.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 completion of the transaction, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at $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. Over the last three months, insiders sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lowered their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Morgan Stanley dropped their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Piper Sandler lowered their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Finally, Wells Fargo & Company reduced their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $638.58.

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.