Treasurer of the State of North Carolina Has $32.49 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Treasurer of the State of North Carolina lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,940 shares of the semiconductor company's stock after selling 742 shares during the period. Treasurer of the State of North Carolina's holdings in Synopsys were worth $32,490,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Nordea Investment Management AB grew its holdings in Synopsys by 15.9% during the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company's stock worth $509,261,000 after acquiring an additional 143,284 shares during the period. James Hambro & Partners LLP raised its holdings in shares of Synopsys by 30.9% in the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company's stock worth $97,725,000 after purchasing an additional 47,527 shares in the last quarter. Synovus Financial Corp lifted its stake in Synopsys by 199.2% during the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock valued at $7,627,000 after purchasing an additional 10,028 shares during the last quarter. Janney Capital Management LLC bought a new stake in Synopsys during the fourth quarter worth approximately $6,082,000. Finally, Artemis Investment Management LLP boosted its holdings in Synopsys by 4.5% during the fourth quarter. Artemis Investment Management LLP now owns 24,878 shares of the semiconductor company's stock worth $12,075,000 after buying an additional 1,081 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SNPS. KeyCorp cut their price objective on Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a research report on Tuesday. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Piper Sandler cut their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Mizuho decreased their price objective on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company cut their target price on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $623.17.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company'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 completion of the sale, the insider now owns 116,671 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on 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 owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock valued at $22,794,835 over the last three months. 0.62% of the stock is currently owned by insiders.

Synopsys Stock Up 0.9 %

Shares of SNPS traded up $3.67 during mid-day trading on Tuesday, hitting $425.65. 908,288 shares of the company's stock were exchanged, compared to its average volume of 1,090,770. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80. The firm has a fifty day moving average of $455.38 and a two-hundred day moving average of $497.37. The stock has a market cap of $65.81 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 3.23 and a beta of 1.23.

About Synopsys

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.