New York State Common Retirement Fund Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

New York State Common Retirement Fund boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 337,531 shares of the semiconductor company's stock after purchasing an additional 26,220 shares during the quarter. New York State Common Retirement Fund owned about 0.22% of Synopsys worth $163,824,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kieckhefer Group LLC purchased a new stake in Synopsys in the 4th quarter valued at $27,000. Hazlett Burt & Watson Inc. raised its position in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Synopsys in the 4th quarter valued at $39,000. Princeton Global Asset Management LLC purchased a new position in Synopsys during the 3rd quarter worth $44,000. Finally, nVerses Capital LLC purchased a new position in Synopsys during the 3rd quarter worth $51,000. Hedge funds and other institutional investors own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SNPS shares. Loop Capital started coverage on shares of Synopsys in a research report on Monday, November 11th. They set a "buy" rating and a $675.00 price objective for the company. Rosenblatt Securities restated a "buy" rating and set a $635.00 price objective on shares of Synopsys in a research report on Wednesday, December 4th. Needham & Company LLC restated a "buy" rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Redburn Atlantic started coverage on shares of Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 price objective for the company. Finally, Wells Fargo & Company cut their price objective on shares of Synopsys from $570.00 to $540.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Synopsys presently has an average rating of "Moderate Buy" and a consensus price target of $641.82.

Synopsys Stock Performance

NASDAQ SNPS traded down $19.13 during trading hours on Friday, reaching $474.84. The company's stock had a trading volume of 1,370,372 shares, compared to its average volume of 1,066,749. The stock has a market cap of $73.40 billion, a PE ratio of 32.70, a PEG ratio of 3.28 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The company's 50-day moving average is $510.88 and its two-hundred day moving average is $517.44.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is owned by insiders.

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.