Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 330,377 shares of the semiconductor company's stock after selling 3,782 shares during the period. Dimensional Fund Advisors LP owned about 0.21% of Synopsys worth $160,370,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in Synopsys during the 4th quarter valued at $583,608,000. Raymond James Financial Inc. bought a new position in shares of Synopsys during the 4th quarter valued at approximately $199,065,000. Proficio Capital Partners LLC lifted its stake in shares of Synopsys by 71,578.5% during the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company's stock valued at $187,517,000 after buying an additional 385,808 shares in the last quarter. Alecta Tjanstepension Omsesidigt purchased a new stake in Synopsys in the 4th quarter worth $104,741,000. Finally, Marshall Wace LLP lifted its position in shares of Synopsys by 117.7% in the fourth quarter. Marshall Wace LLP now owns 390,000 shares of the semiconductor company's stock valued at $189,290,000 after acquiring an additional 210,888 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm'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 sale, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of research reports. Piper Sandler reduced their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a 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 price target for the company. Stifel Nicolaus set a $550.00 price objective on Synopsys in a research note on Monday. Bank of America lowered their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company reduced their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $613.43.

Synopsys Stock Performance

SNPS stock traded up $16.36 on Tuesday, hitting $460.33. 797,800 shares of the company's stock were exchanged, compared to its average volume of 1,087,258. The stock has a market cap of $71.18 billion, a P/E ratio of 31.70, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. The firm has a 50 day moving average price of $435.52 and a two-hundred day moving average price of $491.27. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80.

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.