Bain Capital Public Equity Management II LLC Sells 101,930 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Bain Capital Public Equity Management II LLC decreased its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 73.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,773 shares of the semiconductor company's stock after selling 101,930 shares during the period. Synopsys accounts for 0.8% of Bain Capital Public Equity Management II LLC's portfolio, making the stock its 25th largest position. Bain Capital Public Equity Management II LLC's holdings in Synopsys were worth $18,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Synopsys by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock valued at $7,029,360,000 after acquiring an additional 120,575 shares in the last quarter. Capital World Investors raised its stake in shares of Synopsys by 1.6% during the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock valued at $3,533,526,000 after purchasing an additional 114,893 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Synopsys by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after buying an additional 1,045,326 shares in the last quarter. Geode Capital Management LLC grew its position in Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock valued at $1,625,230,000 after buying an additional 75,298 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after buying an additional 391,681 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Trading Down 0.8 %

SNPS stock traded down $3.86 during midday trading on Tuesday, reaching $473.55. The company had a trading volume of 833,910 shares, compared to its average volume of 1,097,379. The company has a 50 day moving average of $435.13 and a two-hundred day moving average of $489.43. The company has a market capitalization of $73.22 billion, a P/E ratio of 32.61, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business'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 directly owns 70,922 shares of the company's stock, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction 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 transaction, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SNPS shares. Morgan Stanley cut their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Piper Sandler decreased their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Bank of America dropped their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Finally, Needham & Company LLC reissued a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $613.43.

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.