Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Lessened by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 13.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,601 shares of the semiconductor company's stock after selling 2,628 shares during the period. Nikko Asset Management Americas Inc.'s holdings in Synopsys were worth $8,050,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new stake in shares of Synopsys during the fourth quarter worth $27,000. Whipplewood Advisors LLC bought a new position in Synopsys in the fourth quarter worth about $33,000. Sierra Ocean LLC acquired a new position in Synopsys in the fourth quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. bought a new position in shares of Synopsys during the fourth quarter valued at approximately $51,000. Finally, Versant Capital Management Inc raised its position in shares of 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 during the period. 85.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. 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. Corporate insiders own 0.62% of the company's stock.

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Synopsys Stock Performance

Shares of NASDAQ:SNPS traded down $1.39 during trading hours on Friday, hitting $448.60. 3,362,089 shares of the company's stock traded hands, compared to its average volume of 1,025,479. The company's fifty day simple moving average is $492.07 and its two-hundred day simple moving average is $506.55. The company has a market cap of $69.36 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80.

Analysts Set New Price Targets

A number of research analysts recently commented on SNPS shares. Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They set a "buy" rating and a $600.00 price objective for the company. Wells Fargo & Company cut their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Rosenblatt Securities restated a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. 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. Finally, Piper Sandler decreased their price objective on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $638.58.

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.