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

California Public Employees Retirement System reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 446,375 shares of the semiconductor company’s stock after selling 6,128 shares during the quarter. California Public Employees Retirement System owned about 0.29% of Synopsys worth $216,653,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Peloton Wealth Strategists raised its stake in shares of Synopsys by 221.2% during the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after buying an additional 1,984 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Synopsys by 15.9% in the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after purchasing an additional 143,284 shares during the period. James Hambro & Partners LLP boosted its position in shares of Synopsys by 30.9% in the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock worth $97,725,000 after purchasing an additional 47,527 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Synopsys by 53.2% during the third quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company’s stock worth $13,304,000 after purchasing an additional 9,124 shares during the period. Finally, Synovus Financial Corp increased its holdings in Synopsys by 199.2% in the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock valued at $7,627,000 after purchasing an additional 10,028 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s 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 transaction, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents 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 this link. 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 value of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This represents a 11.86 % 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 over the last ninety days. Insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

SNPS has been the subject of several analyst reports. Robert W. Baird decreased their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Rosenblatt Securities reissued a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Finally, Wells Fargo & Company cut their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Trading Down 1.9 %

SNPS stock opened at $437.95 on Monday. The business’s 50 day simple moving average is $485.62 and its 200 day simple moving average is $505.72. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80. The firm has a market capitalization of $67.72 billion, a PE ratio of 30.16, a PEG ratio of 3.23 and a beta of 1.16.

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.