Legal & General Group Plc Has $523.06 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Legal & General Group Plc reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 28.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,077,675 shares of the semiconductor company’s stock after selling 426,183 shares during the period. Legal & General Group Plc owned about 0.70% of Synopsys worth $523,060,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in shares of Synopsys by 5.2% in the 4th quarter. Invesco Ltd. now owns 1,381,496 shares of the semiconductor company’s stock worth $670,523,000 after acquiring an additional 68,766 shares in the last quarter. Bank of Montreal Can raised its position in Synopsys by 6.3% in the 4th quarter. Bank of Montreal Can now owns 245,523 shares of the semiconductor company’s stock valued at $119,167,000 after purchasing an additional 14,540 shares during the last quarter. Bell Asset Management Ltd acquired a new position in Synopsys in the fourth quarter worth $4,750,000. Polymer Capital Management US LLC bought a new stake in shares of Synopsys during the fourth quarter worth $4,623,000. Finally, Himension Capital Singapore PTE. LTD. increased its stake in shares of Synopsys by 50.7% in the fourth quarter. Himension Capital Singapore PTE. LTD. now owns 27,909 shares of the semiconductor company’s stock valued at $13,546,000 after buying an additional 9,394 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Down 1.9 %

NASDAQ:SNPS opened at $380.90 on Tuesday. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The firm has a market capitalization of $58.89 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 3.23 and a beta of 1.23. The business’s 50-day moving average price is $471.23 and its two-hundred day moving average price is $502.20.

Insider Activity at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value 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 represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’s 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. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock worth $22,794,835 in the last ninety days. Company insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Redburn Atlantic began coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Morgan Stanley dropped their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Finally, Piper Sandler lowered their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

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.