New York State Common Retirement Fund Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

New York State Common Retirement Fund boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 337,531 shares of the semiconductor company’s stock after acquiring an additional 26,220 shares during the period. New York State Common Retirement Fund’s holdings in Synopsys were worth $163,824,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Hazlett Burt & Watson Inc. grew its holdings in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Caprock Group LLC grew its stake in Synopsys by 0.5% in 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 in the last quarter. Compagnie Lombard Odier SCmA increased its holdings in Synopsys by 1.1% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock valued at $898,000 after buying an additional 20 shares during the last quarter. Aptus Capital Advisors LLC raised its stake 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 buying an additional 22 shares in the last quarter. Finally, Resurgent Financial Advisors LLC lifted its holdings in Synopsys by 2.8% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock worth $410,000 after buying an additional 22 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $525.00 on Wednesday. The stock has a market cap of $81.15 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 3.42 and a beta of 1.12. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The stock’s 50 day moving average price is $511.06 and its 200 day moving average price is $517.59.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Piper Sandler dropped their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Wells Fargo & Company reduced their price target on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Robert W. Baird lowered their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Finally, Loop Capital began coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $641.82.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on 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 directly owns 1,460 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is owned by insiders.

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.