California Public Employees Retirement System Sells 6,128 Shares of Synopsys, Inc. (NASDAQ:SNPS)

California Public Employees Retirement System lowered its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 446,375 shares of the semiconductor company's stock after selling 6,128 shares during the period. California Public Employees Retirement System owned approximately 0.29% of Synopsys worth $216,653,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SNPS. Kieckhefer Group LLC bought a new stake in shares of Synopsys during the 4th quarter worth $27,000. Whipplewood Advisors LLC acquired a new position in Synopsys during the fourth quarter worth about $33,000. Sierra Ocean LLC acquired a new stake in shares of Synopsys in the 4th quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Synopsys in the 4th quarter valued at approximately $51,000. Finally, Versant Capital Management Inc grew its holdings in shares of Synopsys by 109.3% during the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock valued at $55,000 after purchasing an additional 59 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by company insiders.

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Synopsys Stock Performance

Shares of NASDAQ:SNPS traded up $2.61 during midday trading on Wednesday, reaching $438.55. The company's stock had a trading volume of 1,109,689 shares, compared to its average volume of 1,051,286. Synopsys, Inc. has a fifty-two week low of $415.29 and a fifty-two week high of $624.80. The firm has a 50 day moving average price of $481.79 and a two-hundred day moving average price of $504.91. The firm has a market capitalization of $67.81 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 3.23 and a beta of 1.16.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Needham & Company LLC restated a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. 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 report on Thursday, December 5th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Morgan Stanley cut their price target on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Finally, Piper Sandler lowered their price objective on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $638.58.

Synopsys Company 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.