OVERSEA CHINESE BANKING Corp Ltd Has $9.73 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 20.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,043 shares of the semiconductor company’s stock after selling 5,257 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Synopsys were worth $9,728,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Kieckhefer Group LLC bought a new position in shares of Synopsys in the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC bought a new position in Synopsys during the 4th quarter valued at $33,000. Sierra Ocean LLC purchased a new position in Synopsys during the 4th quarter worth $39,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Synopsys in the 4th quarter worth $51,000. Finally, Versant Capital Management Inc raised its holdings in shares of Synopsys by 109.3% in the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Synopsys stock opened at $447.99 on Wednesday. Synopsys, Inc. has a one year low of $425.73 and a one year high of $624.80. The firm has a market capitalization of $69.27 billion, a P/E ratio of 30.85, a PEG ratio of 3.23 and a beta of 1.16. The business has a fifty day moving average price of $494.15 and a 200-day moving average price of $507.35.

Insider Activity

In related news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % 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. 0.62% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Robert W. Baird reduced 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Morgan Stanley dropped their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. 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. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.