Schonfeld Strategic Advisors LLC Sells 38,858 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Schonfeld Strategic Advisors LLC trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 78.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,647 shares of the semiconductor company's stock after selling 38,858 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Synopsys were worth $5,168,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in shares of Synopsys by 15.9% during the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company's stock valued at $509,261,000 after acquiring an additional 143,284 shares during the period. James Hambro & Partners LLP grew its holdings in Synopsys by 30.9% during the fourth quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company's stock valued at $97,725,000 after purchasing an additional 47,527 shares during the period. Janney Capital Management LLC purchased a new stake in Synopsys in the fourth quarter worth about $6,082,000. Artemis Investment Management LLP raised its stake in shares of Synopsys by 4.5% in the fourth quarter. Artemis Investment Management LLP now owns 24,878 shares of the semiconductor company's stock worth $12,075,000 after buying an additional 1,081 shares during the period. Finally, Fiera Capital Corp lifted its position in shares of Synopsys by 33.8% during the 4th quarter. Fiera Capital Corp now owns 196,391 shares of the semiconductor company's stock valued at $95,320,000 after buying an additional 49,653 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SNPS. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a report on Monday, April 28th. Rosenblatt Securities reissued a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Piper Sandler lowered their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Mizuho decreased their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Morgan Stanley dropped their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $613.43.

Synopsys Stock Performance

Shares of SNPS traded up $5.13 during mid-day trading on Monday, hitting $477.41. 1,074,568 shares of the stock were exchanged, compared to its average volume of 1,096,741. The company has a market cap of $73.82 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The firm has a 50-day moving average of $434.75 and a two-hundred day moving average of $489.54.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction 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 transaction, the insider now directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were 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 $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 currently owned by company insiders.

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.