Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Lowered by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 20.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,043 shares of the semiconductor company's stock after selling 5,257 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Synopsys were worth $9,728,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Synopsys by 1.7% in the 3rd 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 boosted its holdings in shares of Synopsys by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company's stock valued at $1,656,005,000 after purchasing an additional 61,799 shares during the last quarter. Edgewood Management LLC boosted its holdings in shares of Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company's stock valued at $1,554,540,000 after purchasing an additional 487,025 shares during the last quarter. Parnassus Investments LLC acquired a new position in shares of Synopsys in the 3rd quarter valued at $633,469,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Synopsys by 7.7% in the 3rd quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company's stock valued at $577,289,000 after purchasing an additional 81,198 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

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Synopsys Trading Down 0.3 %

Synopsys stock traded down $1.39 during midday trading on Friday, reaching $448.60. 3,362,089 shares of the stock traded hands, compared to its average volume of 1,020,823. The firm has a fifty day moving average price of $491.19 and a two-hundred day moving average price of $506.23. The firm has a market cap of $69.36 billion, a price-to-earnings ratio of 30.90, 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.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was 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 in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNPS. Wells Fargo & Company decreased their price target on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. Piper Sandler dropped their price target 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. Rosenblatt Securities reaffirmed a "buy" rating and set a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Needham & Company LLC reissued a "buy" rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Finally, Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 price target for the company. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $638.58.

Synopsys 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.