Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 242,742 shares of the semiconductor company's stock after selling 2,529 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Synopsys worth $117,817,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nordea Investment Management AB increased its holdings in shares of Synopsys by 15.9% in the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company's stock valued at $509,261,000 after buying an additional 143,284 shares in the last quarter. James Hambro & Partners LLP boosted its position in shares of Synopsys by 30.9% in the 4th 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. Synovus Financial Corp raised its holdings in Synopsys by 199.2% during the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock worth $7,627,000 after buying an additional 10,028 shares during the period. Janney Capital Management LLC acquired a new position in shares of Synopsys in the fourth quarter worth about $6,082,000. Finally, Artemis Investment Management LLP raised its holdings in shares of Synopsys by 4.5% during the fourth quarter. Artemis Investment Management LLP now owns 24,878 shares of the semiconductor company's stock valued at $12,075,000 after acquiring an additional 1,081 shares during the period. Institutional investors own 85.47% of the company's stock.

Insider Buying and Selling

In related news, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated 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 owns 116,671 shares of the company's stock, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 70,922 shares in the company, 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 company insiders.

Synopsys Stock Down 0.6 %

SNPS stock opened at $443.97 on Tuesday. The business's 50-day simple moving average is $435.52 and its 200 day simple moving average is $491.27. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80. The company has a market cap of $68.65 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. KeyCorp reduced their target price on Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Bank of America reduced their price target 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. Redburn Atlantic began coverage on shares of Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 price target on the stock. Piper Sandler cut their price target on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Finally, Mizuho reduced their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $613.43.

Synopsys 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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