Elo Mutual Pension Insurance Co Lowers Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Elo Mutual Pension Insurance Co lessened its position in Synopsys, Inc. (NASDAQ:SNPS) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,019 shares of the semiconductor company’s stock after selling 542 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Synopsys were worth $6,804,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNPS. Larson Financial Group LLC lifted its position 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 worth $202,000 after purchasing an additional 23 shares in the last quarter. D.A. Davidson & CO. boosted its position in Synopsys by 13.9% in the 3rd quarter. D.A. Davidson & CO. now owns 4,118 shares of the semiconductor company’s stock valued at $2,085,000 after buying an additional 502 shares during the period. Quantbot Technologies LP acquired a new position in shares of Synopsys in the third quarter worth $2,562,000. Townsquare Capital LLC increased its position 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 worth $2,886,000 after acquiring an additional 508 shares during the period. Finally, Freedom Investment Management Inc. raised its stake in shares of Synopsys by 28.2% in the third quarter. Freedom Investment Management Inc. now owns 2,816 shares of the semiconductor company’s stock valued at $1,426,000 after acquiring an additional 619 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $446.23 on Friday. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80. The firm has a market capitalization of $69.00 billion, a P/E ratio of 30.73, a P/E/G ratio of 3.23 and a beta of 1.16. The company’s fifty day moving average price is $487.40 and its 200 day moving average price is $505.45.

Analyst Ratings Changes

Several research firms recently commented on SNPS. Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Wells Fargo & Company reduced their target price 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. Robert W. Baird decreased their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $650.00 price objective 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Transactions at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of Synopsys 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 transaction, the insider now directly owns 116,671 shares of the company’s stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction 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 owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,909 shares of company stock worth $22,794,835. Corporate insiders own 0.62% of the company’s stock.

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.