iA Global Asset Management Inc. Has $15.51 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

iA Global Asset Management Inc. lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,947 shares of the semiconductor company's stock after selling 4,762 shares during the period. iA Global Asset Management Inc.'s holdings in Synopsys were worth $15,506,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Synopsys by 1.7% during the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company's stock valued at $3,518,637,000 after purchasing an additional 119,057 shares during the last quarter. Geode Capital Management LLC grew its stake in Synopsys by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company's stock worth $1,656,005,000 after buying an additional 61,799 shares during the last quarter. Edgewood Management LLC grew its stake in Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company's stock worth $1,554,540,000 after buying an additional 487,025 shares during the last quarter. Janus Henderson Group PLC increased its position in Synopsys by 7.7% in the third quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company's stock worth $577,289,000 after buying an additional 81,198 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Synopsys by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,086,249 shares of the semiconductor company's stock valued at $527,222,000 after buying an additional 3,533 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

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Synopsys Price Performance

Shares of Synopsys stock traded up $9.17 during trading on Monday, hitting $457.77. The stock had a trading volume of 974,180 shares, compared to its average volume of 1,020,637. The business has a fifty day moving average of $490.60 and a two-hundred day moving average of $506.31. The firm has a market cap of $70.78 billion, a P/E ratio of 31.53, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a fifty-two week low of $425.73 and a fifty-two week high of $624.80.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SNPS. Piper Sandler lowered their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Morgan Stanley decreased their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Rosenblatt Securities reissued a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Finally, Redburn Atlantic assumed coverage on Synopsys in a research report on Monday, January 13th. They issued a "buy" rating and a $600.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Synopsys currently has an average rating of "Moderate Buy" and a consensus target price of $638.58.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares of the company's stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is owned by insiders.

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.