Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Korea Investment CORP

Korea Investment CORP reduced its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,907 shares of the semiconductor company’s stock after selling 510 shares during the quarter. Korea Investment CORP owned 0.06% of Synopsys worth $41,696,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in shares of Synopsys by 6.1% during the third quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock valued at $202,000 after purchasing an additional 23 shares in the last quarter. D.A. Davidson & CO. lifted its stake in shares of Synopsys by 13.9% in the 3rd quarter. D.A. Davidson & CO. now owns 4,118 shares of the semiconductor company’s stock worth $2,085,000 after acquiring an additional 502 shares during the period. Quantbot Technologies LP bought a new position in shares of Synopsys in the third quarter valued at approximately $2,562,000. Townsquare Capital LLC increased its stake in shares of Synopsys by 9.8% during the third quarter. Townsquare Capital LLC now owns 5,700 shares of the semiconductor company’s stock valued at $2,886,000 after acquiring an additional 508 shares during the period. Finally, Freedom Investment Management Inc. raised its holdings in Synopsys by 28.2% during the third quarter. Freedom Investment Management Inc. now owns 2,816 shares of the semiconductor company’s stock worth $1,426,000 after purchasing an additional 619 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Piper Sandler dropped their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Robert W. Baird reduced 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 reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Insider Activity

In other news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated 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 sale, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was 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 $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock worth $22,794,835 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS opened at $446.23 on Friday. The company has a market capitalization of $69.00 billion, a PE ratio of 30.73, a PEG ratio of 3.23 and a beta of 1.16. The company’s 50 day moving average price is $487.40 and its 200 day moving average price is $505.45. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80.

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.