Mercer Global Advisors Inc. ADV Decreases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Mercer Global Advisors Inc. ADV lessened its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,524 shares of the semiconductor company's stock after selling 1,152 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Synopsys were worth $5,108,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. World Investment Advisors LLC bought a new stake in shares of Synopsys during the 3rd quarter valued at about $253,000. Wilmington Savings Fund Society FSB bought a new position in shares of Synopsys during the 3rd quarter worth approximately $865,000. B. Riley Wealth Advisors Inc. increased its stake in shares of Synopsys by 27.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 863 shares of the semiconductor company's stock valued at $434,000 after acquiring an additional 186 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Synopsys by 1.1% during the third quarter. Principal Financial Group Inc. now owns 247,966 shares of the semiconductor company's stock worth $125,568,000 after acquiring an additional 2,655 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Synopsys by 109.3% in the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock worth $55,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Activity

In related news, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was 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 corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SNPS. Piper Sandler cut their price objective on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Mizuho lowered their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Redburn Atlantic assumed coverage on Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 target price on the stock. Finally, Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a report on Monday, April 28th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Synopsys has an average rating of "Moderate Buy" and an average target price of $613.43.

Synopsys Stock Down 0.4 %

SNPS stock traded down $1.81 during trading on Friday, reaching $482.69. The stock had a trading volume of 567,581 shares, compared to its average volume of 1,097,722. The company has a market capitalization of $74.63 billion, a price-to-earnings ratio of 33.24, 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 company's 50 day moving average is $436.44 and its two-hundred day moving average is $489.23.

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.