Louisiana State Employees Retirement System Sells 800 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Louisiana State Employees Retirement System trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,500 shares of the semiconductor company’s stock after selling 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Synopsys were worth $9,465,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Hazlett Burt & Watson Inc. lifted its stake in Synopsys by 40.0% during 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 during the period. Caprock Group LLC raised its holdings in shares of Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after purchasing an additional 20 shares during the last quarter. Aptus Capital Advisors LLC lifted its position in 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 purchasing an additional 22 shares during the period. Resurgent Financial Advisors LLC boosted its holdings in Synopsys by 2.8% in the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after purchasing an additional 22 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Synopsys by 6.1% during the 3rd quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock worth $202,000 after purchasing an additional 23 shares during the period. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of the 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 in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SNPS. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Wednesday, December 4th. Wells Fargo & Company reduced their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Robert W. Baird lowered their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Finally, Berenberg Bank initiated coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Synopsys has an average rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Stock Down 0.4 %

SNPS opened at $529.14 on Wednesday. The firm’s fifty day simple moving average is $512.80 and its two-hundred day simple moving average is $518.34. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The company has a market cap of $81.79 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 3.49 and a beta of 1.12.

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.