Public Employees Retirement System of Ohio Sells 3,965 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Public Employees Retirement System of Ohio trimmed its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,175 shares of the semiconductor company's stock after selling 3,965 shares during the period. Public Employees Retirement System of Ohio's holdings in Synopsys were worth $33,575,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SNPS. Advisors Capital Management LLC grew its position 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 buying an additional 19 shares in the last quarter. Caprock Group LLC boosted its position in shares of Synopsys by 0.5% during the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company's stock valued at $1,803,000 after acquiring an additional 20 shares during the last quarter. Compagnie Lombard Odier SCmA boosted its position in shares of Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock valued at $898,000 after acquiring an additional 20 shares during the last quarter. Edge Capital Group LLC grew its holdings in shares of Synopsys by 1.2% during the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock worth $791,000 after purchasing an additional 20 shares in the last quarter. Finally, Barden Capital Management Inc. increased its position in shares of Synopsys by 1.1% in the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock worth $889,000 after purchasing an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Price Performance

NASDAQ:SNPS traded down $49.36 during mid-day trading on Wednesday, hitting $462.43. 4,758,538 shares of the company's stock were exchanged, compared to its average volume of 1,120,499. The company has a market cap of $71.50 billion, a PE ratio of 31.85, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The business has a fifty day moving average price of $453.18 and a 200 day moving average price of $487.60.

Insider Activity at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of the business'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 completion of the transaction, the insider now directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. The trade was a 11.86% 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. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the sale, the chief executive officer now owns 70,922 shares of the company's stock, valued at approximately $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. 0.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SNPS shares. Bank of America dropped their target price on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Rosenblatt Securities reissued a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Wells Fargo & Company cut their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Finally, Stifel Nicolaus set a $550.00 price objective on Synopsys in a report on Monday, April 28th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $614.86.

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.