Russell Investments Group Ltd. Sells 1,465 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Russell Investments Group Ltd. lowered its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,460 shares of the semiconductor company's stock after selling 1,465 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of Synopsys worth $47,803,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Aviva PLC raised its position in Synopsys by 6.5% during the fourth quarter. Aviva PLC now owns 92,509 shares of the semiconductor company's stock valued at $44,900,000 after buying an additional 5,663 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Synopsys during the fourth quarter worth approximately $1,229,000. Mizuho Bank Ltd. purchased a new stake in Synopsys in the 4th quarter worth approximately $58,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Synopsys during the 4th quarter valued at $34,000. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Synopsys during the 4th quarter valued at $22,666,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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Synopsys Trading Up 3.5 %

NASDAQ SNPS traded up $14.32 on Friday, reaching $421.21. The company's stock had a trading volume of 1,745,597 shares, compared to its average volume of 1,090,275. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. The firm 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. The business has a 50-day moving average price of $457.51 and a 200 day moving average price of $498.13.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated Wednesday, January 15th. The shares were 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 of the company's stock, valued at $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm'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 $32,890,077.50. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by company insiders.

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.