Livforsakringsbolaget Skandia Omsesidigt Lowers Position in Synopsys, Inc. (NASDAQ:SNPS)

Livforsakringsbolaget Skandia Omsesidigt lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 30.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,714 shares of the semiconductor company’s stock after selling 1,600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Synopsys were worth $1,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kieckhefer Group LLC acquired a new stake in shares of Synopsys in the 4th quarter worth $27,000. Tsfg LLC raised its stake in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in shares of Synopsys during the third quarter worth about $44,000. Finally, nVerses Capital LLC acquired a new position in shares of Synopsys during the third quarter valued at about $51,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.66% of the stock is owned by corporate insiders.

Synopsys Price Performance

SNPS stock opened at $533.18 on Friday. The business’s 50-day moving average is $514.44 and its two-hundred day moving average is $519.45. The firm has a market capitalization of $82.42 billion, a P/E ratio of 36.72, a P/E/G ratio of 3.44 and a beta of 1.12. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

Analyst Ratings Changes

A number of analysts recently commented on SNPS shares. Piper Sandler lowered their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Wednesday, December 4th. Wells Fargo & Company cut their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $641.82.

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.