California Public Employees Retirement System Has $216.65 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

California Public Employees Retirement System trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 446,375 shares of the semiconductor company’s stock after selling 6,128 shares during the period. California Public Employees Retirement System’s holdings in Synopsys were worth $216,653,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SNPS. Caprock Group LLC lifted its position in shares of 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 buying an additional 20 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its holdings in shares of Synopsys by 1.1% during the fourth 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 period. Edge Capital Group LLC increased its stake in shares of Synopsys by 1.2% in the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock valued at $791,000 after buying an additional 20 shares during the period. Barden Capital Management Inc. boosted its stake in shares of 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 purchasing an additional 20 shares during the last quarter. Finally, Resurgent Financial Advisors LLC lifted its stake in shares of Synopsys by 2.8% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after purchasing an additional 22 shares during the period. 85.47% of the stock is owned by institutional investors.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction 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. This represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, the insider now 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. Insiders sold 47,909 shares of company stock valued at $22,794,835 in the last three months. Company insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Morgan Stanley decreased their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Robert W. Baird lowered their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Stock Performance

NASDAQ SNPS opened at $437.95 on Monday. The company has a market capitalization of $67.72 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52-week low of $425.73 and a 52-week high of $624.80. The company has a 50-day simple moving average of $485.62 and a 200 day simple moving average of $505.72.

Synopsys Company Profile

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.