Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $15.85 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,663 shares of the semiconductor company's stock after selling 691 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Synopsys were worth $15,853,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Talos Asset Management LP bought a new position in shares of Synopsys during the fourth quarter valued at $16,842,000. Royal London Asset Management Ltd. increased its position in shares of Synopsys by 2.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 168,251 shares of the semiconductor company's stock worth $81,662,000 after purchasing an additional 4,092 shares in the last quarter. Algebris UK Ltd bought a new position in Synopsys during the 4th quarter valued at about $597,000. Generali Investments Management Co LLC acquired a new position in Synopsys in the fourth quarter valued at about $889,000. Finally, Investment House LLC boosted its position in Synopsys by 247.9% in the fourth quarter. Investment House LLC now owns 4,989 shares of the semiconductor company's stock valued at $2,421,000 after buying an additional 3,555 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of research analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Wells Fargo & Company cut their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 target price on the stock. Piper Sandler dropped their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Finally, Robert W. Baird decreased their price target on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $638.58.

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Synopsys Stock Performance

SNPS traded down $0.54 during midday trading on Tuesday, reaching $457.23. 758,960 shares of the company were exchanged, compared to its average volume of 1,020,532. The stock has a market capitalization of $70.70 billion, a P/E ratio of 31.49, a PEG ratio of 3.23 and a beta of 1.16. The stock's 50-day simple moving average is $490.60 and its 200 day simple moving average is $506.31. Synopsys, Inc. has a one year low of $425.73 and a one year high of $624.80.

Insider Buying and Selling

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 transaction 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. This trade represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock valued at $22,794,835 in the last 90 days. 0.62% of the stock is owned by insiders.

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.