Man Group plc Cuts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Man Group plc reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 73.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,699 shares of the semiconductor company's stock after selling 41,669 shares during the period. Man Group plc's holdings in Synopsys were worth $7,134,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Advisors Capital Management LLC raised its holdings in Synopsys by 2.3% during the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock worth $408,000 after purchasing an additional 19 shares in the last quarter. Caprock Group LLC raised its holdings in 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 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 in the last quarter. Edge Capital Group LLC increased its holdings in Synopsys by 1.2% in the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock valued at $791,000 after buying an additional 20 shares in the last quarter. Finally, Barden Capital Management Inc. increased its holdings in Synopsys by 1.1% in the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock valued at $889,000 after buying an additional 20 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Geus Aart De sold 15,705 shares of the firm'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 transaction of $6,979,616.10. Following the sale, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the sale, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This trade represents a 13.81% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNPS. Piper Sandler dropped their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. KeyCorp dropped their target price on shares of Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company dropped their target price on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a report on Monday, April 28th. Finally, Morgan Stanley dropped their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Synopsys presently has an average rating of "Moderate Buy" and an average price target of $613.43.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $516.01 on Tuesday. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The firm's 50 day moving average price is $446.11 and its 200 day moving average price is $488.94. The firm has a market cap of $79.79 billion, a P/E ratio of 35.54, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

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.

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