Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,019 shares of the semiconductor company’s stock after selling 542 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Synopsys were worth $6,804,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in Synopsys in the fourth quarter valued at approximately $199,065,000. Proficio Capital Partners LLC grew its stake in Synopsys by 71,578.5% in the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after acquiring an additional 385,808 shares during the period. Wellington Management Group LLP increased its holdings in Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after acquiring an additional 257,526 shares in the last quarter. Alecta Tjanstepension Omsesidigt acquired a new position in Synopsys during the fourth quarter worth $104,741,000. Finally, American Century Companies Inc. lifted its holdings in Synopsys by 38.7% during the fourth quarter. American Century Companies Inc. now owns 571,474 shares of the semiconductor company’s stock valued at $277,371,000 after purchasing an additional 159,344 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

SNPS has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Needham & Company LLC reiterated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Robert W. Baird decreased their target price on 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 reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,909 shares of company stock worth $22,794,835. Insiders own 0.62% of the company’s stock.

Synopsys Stock Down 0.8 %

NASDAQ SNPS opened at $446.23 on Friday. The business’s fifty day simple moving average is $487.40 and its 200-day simple moving average is $505.45. The firm has a market cap of $69.00 billion, a PE ratio of 30.73, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80.

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.