Legal & General Group Plc Has $523.06 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Legal & General Group Plc trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 28.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,077,675 shares of the semiconductor company's stock after selling 426,183 shares during the quarter. Legal & General Group Plc owned 0.70% of Synopsys worth $523,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Benjamin Edwards Inc. lifted its stake in Synopsys by 458.9% in the third quarter. Benjamin Edwards Inc. now owns 598 shares of the semiconductor company's stock valued at $303,000 after acquiring an additional 491 shares during the last quarter. IHT Wealth Management LLC increased its position in Synopsys by 39.1% during the third quarter. IHT Wealth Management LLC now owns 858 shares of the semiconductor company's stock worth $433,000 after buying an additional 241 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in Synopsys by 36.6% during the third quarter. EP Wealth Advisors LLC now owns 2,041 shares of the semiconductor company's stock valued at $1,033,000 after buying an additional 547 shares in the last quarter. Headinvest LLC acquired a new stake in shares of Synopsys in the third quarter worth about $397,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Synopsys during the 3rd quarter worth about $2,745,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of recent analyst reports. Wells Fargo & Company cut 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. Rosenblatt Securities restated a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Piper Sandler lowered their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Morgan Stanley dropped their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Finally, Needham & Company LLC restated a "buy" rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $638.58.

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Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value 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 approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by corporate insiders.

Synopsys Stock Up 3.5 %

Synopsys stock traded up $14.32 during trading hours on Friday, hitting $421.21. The stock had a trading volume of 1,745,597 shares, compared to its average volume of 1,091,393. The company has a 50-day moving average of $457.51 and a two-hundred day moving average of $498.01. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80. The company has a market cap of $65.13 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23.

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.