Keystone Investors PTE Ltd. reduced its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 38.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,172 shares of the semiconductor company's stock after selling 3,799 shares during the quarter. Keystone Investors PTE Ltd.'s holdings in Synopsys were worth $2,996,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in SNPS. Kieckhefer Group LLC bought a new position in Synopsys during the fourth quarter worth about $27,000. Whipplewood Advisors LLC bought a new position in Synopsys in the 4th quarter worth approximately $33,000. Sierra Ocean LLC purchased a new position in Synopsys in the 4th quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. bought a new stake in Synopsys during the 4th quarter valued at $51,000. Finally, Versant Capital Management Inc lifted its holdings in Synopsys by 109.3% during the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock worth $55,000 after purchasing an additional 59 shares in the last quarter. Institutional investors own 85.47% of the company's stock.
Insiders Place Their Bets
In related news, insider Geus Aart De sold 15,705 shares of the company'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 value of $6,979,616.10. Following the transaction, the insider now directly owns 116,671 shares in the company, 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 legal filing with the SEC, which is accessible through this link. 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 trade represents a 93.45 % 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 over the last ninety days. Company insiders own 0.62% of the company's stock.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. Piper Sandler decreased 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. 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 report on Thursday, February 27th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Morgan Stanley cut their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Synopsys has an average rating of "Moderate Buy" and an average target price of $638.58.
Get Our Latest Stock Report on SNPS
Synopsys Stock Performance
Shares of NASDAQ SNPS traded down $8.28 during trading on Friday, hitting $437.95. 941,520 shares of the company were exchanged, compared to its average volume of 1,048,262. Synopsys, Inc. has a 12-month low of $425.73 and a 12-month high of $624.80. The company has a fifty day moving average price of $485.62 and a 200-day moving average price of $505.55. The firm has a market capitalization of $67.72 billion, a PE ratio of 30.16, a P/E/G ratio of 3.23 and a beta of 1.16.
About Synopsys
(
Free Report)
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.
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