Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,663 shares of the semiconductor company’s stock after selling 691 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Synopsys were worth $15,853,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Talos Asset Management LP bought a new stake in Synopsys in the 4th quarter worth approximately $16,842,000. Royal London Asset Management Ltd. increased its stake in Synopsys by 2.5% in the fourth quarter. Royal London Asset Management Ltd. now owns 168,251 shares of the semiconductor company’s stock worth $81,662,000 after purchasing an additional 4,092 shares during the period. Algebris UK Ltd bought a new stake in shares of Synopsys during the fourth quarter worth $597,000. Generali Investments Management Co LLC purchased a new stake in shares of Synopsys during the fourth quarter valued at $889,000. Finally, Investment House LLC grew its holdings in shares of Synopsys by 247.9% in the fourth quarter. Investment House LLC now owns 4,989 shares of the semiconductor company’s stock worth $2,421,000 after purchasing an additional 3,555 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SNPS. Needham & Company LLC reiterated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Wells Fargo & Company decreased their target price 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. Piper Sandler dropped their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Stock Down 0.1 %

Shares of SNPS stock opened at $449.99 on Friday. The firm has a market cap of $69.58 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 3.23 and a beta of 1.16. The company’s 50 day moving average is $492.07 and its 200 day moving average is $506.55. Synopsys, Inc. has a 52-week low of $425.73 and a 52-week high of $624.80.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction 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. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction 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 completion of the transaction, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by insiders.

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.