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

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kieckhefer Group LLC purchased a new stake in Synopsys during the 4th quarter valued at about $27,000. Whipplewood Advisors LLC bought a new position in shares of Synopsys in the fourth quarter worth approximately $33,000. Sierra Ocean LLC purchased a new stake in shares of Synopsys during the fourth quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $51,000. Finally, Versant Capital Management Inc raised its holdings in Synopsys by 109.3% in the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 59 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Trading Down 0.1 %

Shares of SNPS stock opened at $449.99 on Friday. The company has a 50 day simple moving average of $492.07 and a two-hundred day simple moving average of $506.55. The stock has a market cap of $69.58 billion, a P/E ratio of 30.99, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80.

Analysts Set New Price Targets

Several analysts have commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Wells Fargo & Company dropped their price target 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. Finally, Piper Sandler reduced their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the 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 sale, the executive now directly owns 1,460 shares of the company’s stock, 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 SEC, which can be accessed through this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock worth $22,794,835 in the last three months. Corporate insiders own 0.62% of the company’s stock.

Synopsys 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.