Prudential Financial Inc. Has $38.18 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Prudential Financial Inc. reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 15.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,659 shares of the semiconductor company’s stock after selling 14,002 shares during the period. Prudential Financial Inc.’s holdings in Synopsys were worth $38,178,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SNPS. Peloton Wealth Strategists increased its position in Synopsys by 221.2% in the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after purchasing an additional 1,984 shares during the last quarter. Nordea Investment Management AB increased its holdings in Synopsys by 15.9% in the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after buying an additional 143,284 shares during the last quarter. James Hambro & Partners LLP raised its position in Synopsys by 30.9% during the fourth quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock valued at $97,725,000 after acquiring an additional 47,527 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in Synopsys by 53.2% in the third quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company’s stock valued at $13,304,000 after acquiring an additional 9,124 shares during the last quarter. Finally, Synovus Financial Corp grew its position in Synopsys by 199.2% in the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock worth $7,627,000 after acquiring an additional 10,028 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was 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 owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is currently owned by company insiders.

Synopsys Trading Down 0.1 %

Shares of SNPS stock opened at $457.23 on Wednesday. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The firm’s fifty day simple moving average is $489.94 and its 200 day simple moving average is $506.26. The firm has a market capitalization of $70.70 billion, a P/E ratio of 31.49, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Analyst Upgrades and Downgrades

SNPS has been the subject of several analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Wells Fargo & Company reduced their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Finally, Piper Sandler lowered their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. One investment 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.com, the company has an average rating of “Moderate Buy” and an average price target of $638.58.

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.