Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 15,390 shares of the semiconductor company's stock after selling 642 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Synopsys were worth $7,470,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Clearbridge Investments LLC lifted its stake in Synopsys by 38.1% during the 4th quarter. Clearbridge Investments LLC now owns 348,229 shares of the semiconductor company's stock valued at $169,017,000 after acquiring an additional 96,147 shares during the period. Martin Currie Ltd. acquired a new position in Synopsys during the fourth quarter valued at $13,912,000. Arrowstreet Capital Limited Partnership purchased a new stake in Synopsys in the fourth quarter valued at $1,678,000. Allianz SE acquired a new stake in Synopsys during the 4th quarter worth about $2,371,000. Finally, Allstate Corp purchased a new position in shares of Synopsys during the 4th quarter valued at about $2,200,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the firm'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 transaction of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock valued at $22,794,835 over the last quarter. 0.62% of the stock is currently owned by insiders.

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Analyst Ratings Changes

SNPS has been the topic of a number of recent research reports. Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 target price on the stock. Robert W. Baird lowered their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research report on Thursday, December 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Piper Sandler lowered 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. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Synopsys currently has an average rating of "Moderate Buy" and a consensus target price of $638.58.

Synopsys Stock Performance

Shares of SNPS traded down $29.63 during mid-day trading on Friday, hitting $388.13. 2,513,019 shares of the company were exchanged, compared to its average volume of 1,063,784. The stock has a market cap of $60.01 billion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1-year low of $384.90 and a 1-year high of $624.80. The company has a 50 day moving average of $476.99 and a 200-day moving average of $503.85.

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.