Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Prudential PLC

Prudential PLC lessened its position in Synopsys, Inc. (NASDAQ:SNPS) by 4.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,406 shares of the semiconductor company’s stock after selling 705 shares during the period. Prudential PLC’s holdings in Synopsys were worth $6,992,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Synopsys in the 4th quarter valued at about $583,608,000. Raymond James Financial Inc. acquired a new stake in Synopsys during the fourth quarter valued at approximately $199,065,000. Proficio Capital Partners LLC boosted its holdings 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 worth $187,517,000 after buying an additional 385,808 shares in the last quarter. Wellington Management Group LLP grew its position in Synopsys by 32.5% in the third 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 during the last quarter. Finally, Alecta Tjanstepension Omsesidigt bought a new position in shares of Synopsys in the fourth quarter valued at $104,741,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,909 shares of company stock valued at $22,794,835. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SNPS shares. Morgan Stanley reduced their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Piper Sandler cut their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Needham & Company LLC reissued a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Finally, Redburn Atlantic started coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Stock Down 7.1 %

Synopsys stock opened at $388.13 on Friday. Synopsys, Inc. has a 12 month low of $387.41 and a 12 month high of $624.80. The stock has a market cap of $60.01 billion, a P/E ratio of 26.73, a P/E/G ratio of 3.23 and a beta of 1.16. The company’s fifty day simple moving average is $473.83 and its 200-day simple moving average is $503.08.

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.