Sumitomo Life Insurance Co. Decreases Position in Synopsys, Inc. (NASDAQ:SNPS)

Sumitomo Life Insurance Co. lessened its position in Synopsys, Inc. (NASDAQ:SNPS) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,741 shares of the semiconductor company’s stock after selling 117 shares during the period. Sumitomo Life Insurance Co.’s holdings in Synopsys were worth $4,243,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SNPS. Hazlett Burt & Watson Inc. lifted 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 acquiring an additional 20 shares in the last quarter. Green Alpha Advisors LLC raised its stake in shares of Synopsys by 1.7% in the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after purchasing an additional 22 shares during the last quarter. Aptus Capital Advisors LLC boosted its position in shares of Synopsys by 1.5% during the third quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock valued at $733,000 after buying an additional 22 shares during the last quarter. Resurgent Financial Advisors LLC boosted its position in shares of Synopsys by 2.8% during the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after buying an additional 22 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in Synopsys by 6.1% in the 3rd quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock worth $202,000 after buying an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 3.0 %

Shares of SNPS opened at $526.12 on Wednesday. The business has a 50-day simple moving average of $518.41 and a two-hundred day simple moving average of $522.22. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The stock has a market cap of $81.33 billion, a price-to-earnings ratio of 36.23, a PEG ratio of 3.57 and a beta of 1.12.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s 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 completion of the transaction, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on SNPS. Piper Sandler lowered their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Robert W. Baird lowered their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. Berenberg Bank initiated coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $641.82.

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.