Polymer Capital Management HK LTD Has $497,000 Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Polymer Capital Management HK LTD lessened its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 90.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,023 shares of the semiconductor company's stock after selling 9,752 shares during the quarter. Polymer Capital Management HK LTD's holdings in Synopsys were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Kieckhefer Group LLC acquired a new position in Synopsys during the 4th quarter worth $27,000. Whipplewood Advisors LLC acquired a new position in shares of Synopsys during the fourth quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in Synopsys in the fourth quarter valued at about $34,000. Sierra Ocean LLC acquired a new stake in Synopsys in the fourth quarter worth about $39,000. Finally, Hazlett Burt & Watson Inc. raised its holdings in Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 20 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Geus Aart De sold 15,705 shares of the stock in a transaction on 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 completion of the transaction, the insider now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the 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 transaction, the executive now owns 1,460 shares of the company's stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 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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Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SNPS. Needham & Company LLC restated a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They set a "buy" rating and a $600.00 price objective on the stock. 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, Piper Sandler reduced their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. One 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, the company presently has an average rating of "Moderate Buy" and an average price target of $638.58.

Synopsys Stock Up 3.5 %

Shares of NASDAQ:SNPS traded up $14.32 during midday trading on Friday, reaching $421.21. 1,745,597 shares of the company were exchanged, compared to its average volume of 1,090,275. The firm has a market cap of $65.13 billion, a PE ratio of 29.01, a P/E/G ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80. The stock has a fifty day simple moving average of $457.51 and a two-hundred day simple moving average of $498.13.

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.