Keystone Investors PTE Ltd. Sells 3,799 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Keystone Investors PTE Ltd. reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 38.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,172 shares of the semiconductor company’s stock after selling 3,799 shares during the period. Keystone Investors PTE Ltd.’s holdings in Synopsys were worth $2,996,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in Synopsys during the 4th quarter valued at approximately $199,065,000. Proficio Capital Partners LLC raised its stake in Synopsys by 71,578.5% during the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after purchasing an additional 385,808 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after buying an additional 257,526 shares in the last quarter. Alecta Tjanstepension Omsesidigt bought a new stake in shares of Synopsys in the 4th quarter worth about $104,741,000. Finally, American Century Companies Inc. raised its position in shares of Synopsys by 38.7% during the 4th quarter. American Century Companies Inc. now owns 571,474 shares of the semiconductor company’s stock valued at $277,371,000 after buying an additional 159,344 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Synopsys stock opened at $457.77 on Tuesday. The business’s 50-day simple moving average is $490.60 and its two-hundred day simple moving average is $506.31. The company has a market cap of $70.78 billion, a PE ratio of 31.53, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a fifty-two week low of $425.73 and a fifty-two week high of $624.80.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This represents a 11.86 % 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 this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’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 transaction of $5,270,982.50. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock valued at $22,794,835 over the last quarter. 0.62% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Piper Sandler dropped their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Morgan Stanley lowered their price target on 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 cut their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Finally, Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $638.58.

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.