Phoenix Financial Ltd. Has $1.36 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Phoenix Financial Ltd. cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 28.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,807 shares of the semiconductor company's stock after selling 1,104 shares during the period. Phoenix Financial Ltd.'s holdings in Synopsys were worth $1,363,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares of the company's stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at approximately $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 quarter, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is owned by insiders.

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Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler decreased their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 target price for the company. Wells Fargo & Company reduced their price target on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Mizuho dropped their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday. Finally, KeyCorp lowered their price target on Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a report on Tuesday. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $623.17.

Synopsys Price Performance

SNPS stock traded up $3.67 during midday trading on Tuesday, hitting $425.65. The company's stock had a trading volume of 906,540 shares, compared to its average volume of 1,090,763. The company's fifty day moving average price is $455.38 and its 200 day moving average price is $497.37. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80. The stock has a market capitalization of $65.81 billion, a P/E ratio of 29.31, a PEG ratio of 3.23 and a beta of 1.23.

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.