National Pension Service Sells 26,453 Shares of Synopsys, Inc. (NASDAQ:SNPS)

National Pension Service lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 333,912 shares of the semiconductor company’s stock after selling 26,453 shares during the period. National Pension Service owned approximately 0.22% of Synopsys worth $162,068,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNPS. Parnassus Investments LLC acquired a new position in shares of Synopsys in the 3rd quarter worth approximately $633,469,000. Edgewood Management LLC grew its position in Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after acquiring an additional 487,025 shares during the period. Van ECK Associates Corp grew its position in Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after acquiring an additional 335,993 shares during the period. Impax Asset Management Group plc raised its stake in Synopsys by 120.2% during the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after acquiring an additional 267,836 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Synopsys by 32.5% during the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after acquiring an additional 257,526 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 2.7 %

Shares of SNPS opened at $470.46 on Thursday. The stock’s fifty day simple moving average is $507.61 and its 200-day simple moving average is $516.56. The firm has a market capitalization of $72.72 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a 12-month low of $457.00 and a 12-month high of $624.80.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction 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 owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Wells Fargo & Company decreased their price objective on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday. Piper Sandler decreased their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Finally, Morgan Stanley dropped their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $639.58.

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.