Teacher Retirement System of Texas Sells 2,358 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Teacher Retirement System of Texas cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 20.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 9,061 shares of the semiconductor company's stock after selling 2,358 shares during the quarter. Teacher Retirement System of Texas' holdings in Synopsys were worth $4,398,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of SNPS. Raymond James Financial Inc. purchased a new stake in shares of Synopsys in the 4th quarter valued at approximately $199,065,000. Proficio Capital Partners LLC lifted its holdings in shares of Synopsys by 71,578.5% in the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company's stock valued at $187,517,000 after purchasing an additional 385,808 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Synopsys by 32.5% in the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company's stock worth $531,056,000 after buying an additional 257,526 shares during the period. Alecta Tjanstepension Omsesidigt purchased a new position in shares of Synopsys during the fourth quarter valued at $104,741,000. Finally, Nordea Investment Management AB raised its position 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 valued at $509,261,000 after buying an additional 143,284 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Down 0.8 %

Shares of SNPS stock traded down $3.67 during trading hours on Thursday, reaching $446.23. 699,026 shares of the company's stock were exchanged, compared to its average volume of 1,016,338. Synopsys, Inc. has a fifty-two week low of $425.73 and a fifty-two week high of $624.80. The stock has a market capitalization of $69.00 billion, a P/E ratio of 30.73, a P/E/G ratio of 3.23 and a beta of 1.16. The business has a fifty day moving average price of $487.40 and a 200-day moving average price of $505.45.

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Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SNPS. Morgan Stanley dropped 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 lowered their price objective 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. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Rosenblatt Securities restated a "buy" rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Finally, Piper Sandler dropped their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" 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 given a buy rating to the company's stock. Based on data from MarketBeat, Synopsys presently has an average rating of "Moderate Buy" and a consensus price target of $638.58.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction 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 sale, the executive now owns 1,460 shares of the company's stock, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction dated 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 directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock valued at $22,794,835 in the last ninety days. Company insiders own 0.62% of the company's stock.

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.