State of Tennessee Department of Treasury Raises Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

State of Tennessee Department of Treasury raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 36.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,787 shares of the semiconductor company's stock after purchasing an additional 13,092 shares during the period. State of Tennessee Department of Treasury's holdings in Synopsys were worth $23,679,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Kieckhefer Group LLC acquired a new stake in Synopsys in the 4th quarter worth about $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Synopsys in the fourth quarter worth approximately $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Synopsys in the 4th quarter valued at $34,000. Sierra Ocean LLC purchased a new position in Synopsys in the 4th quarter valued at $39,000. Finally, Hazlett Burt & Watson Inc. boosted its stake 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. Institutional investors and hedge funds own 85.47% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SNPS. Bank of America decreased their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company lowered their target price on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. KeyCorp cut their price target on Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Morgan Stanley lowered their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Finally, 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. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Synopsys currently has an average rating of "Moderate Buy" and a consensus price target of $618.31.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction that occurred 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 of the company's stock, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

Synopsys Stock Performance

Shares of SNPS stock opened at $413.40 on Wednesday. The firm has a market cap of $63.92 billion, a P/E ratio of 28.47, a P/E/G ratio of 3.23 and a beta of 1.23. The firm's 50 day moving average price is $441.91 and its 200-day moving average price is $493.85. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80.

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.

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