Taikang Asset Management Hong Kong Co Ltd Sells 11,782 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Taikang Asset Management Hong Kong Co Ltd lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 50.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,782 shares of the semiconductor company's stock after selling 11,782 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd's holdings in Synopsys were worth $5,719,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Synopsys by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock worth $7,029,360,000 after acquiring an additional 120,575 shares during the last quarter. State Street Corp grew its holdings in shares of Synopsys by 1.7% during the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company's stock worth $3,518,637,000 after purchasing an additional 119,057 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Synopsys by 1.9% in the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company's stock valued at $1,656,005,000 after buying an additional 61,799 shares during the period. Janus Henderson Group PLC raised its holdings in Synopsys by 7.7% in the 3rd quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company's stock valued at $577,289,000 after buying an additional 81,198 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Synopsys by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,086,249 shares of the semiconductor company's stock worth $527,222,000 after buying an additional 3,533 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SNPS shares. Piper Sandler dropped their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 target price for the company. Morgan Stanley cut their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Wells Fargo & Company decreased their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Finally, Robert W. Baird cut their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research note on Thursday, December 5th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $638.58.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was 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 in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the business'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 completion of the sale, the executive now directly owns 1,460 shares of the company's stock, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock worth $22,794,835 in the last quarter. 0.62% of the stock is owned by corporate insiders.

Synopsys Trading Down 1.9 %

SNPS stock traded down $8.28 during mid-day trading on Friday, reaching $437.95. The company's stock had a trading volume of 941,520 shares, compared to its average volume of 1,048,262. The company has a market cap of $67.72 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80. The business's 50 day moving average price is $485.62 and its 200 day moving average price is $505.55.

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.