Taikang Asset Management Hong Kong Co Ltd Sells 11,782 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Taikang Asset Management Hong Kong Co Ltd decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 50.0% in the 4th quarter, HoldingsChannel reports. The firm owned 11,782 shares of the semiconductor company’s stock after selling 11,782 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd’s holdings in Synopsys were worth $5,719,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Raymond James Trust N.A. increased its stake in Synopsys by 22.9% in the third quarter. Raymond James Trust N.A. now owns 1,475 shares of the semiconductor company’s stock valued at $747,000 after acquiring an additional 275 shares during the last quarter. Nwam LLC bought a new position in shares of Synopsys in the 3rd quarter valued at $202,000. Cerity Partners LLC raised its holdings in shares of Synopsys by 23.4% during the 3rd quarter. Cerity Partners LLC now owns 47,954 shares of the semiconductor company’s stock worth $24,284,000 after buying an additional 9,078 shares in the last quarter. Penserra Capital Management LLC lifted its position in shares of Synopsys by 41.4% during the 3rd quarter. Penserra Capital Management LLC now owns 11,129 shares of the semiconductor company’s stock worth $5,634,000 after buying an additional 3,256 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in Synopsys by 6.1% in the third quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock valued at $202,000 after buying an additional 23 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $457.77 on Tuesday. The company’s 50 day moving average price is $490.60 and its 200-day moving average price is $506.31. Synopsys, Inc. has a 52-week low of $425.73 and a 52-week high of $624.80. The company has a market capitalization of $70.78 billion, a P/E ratio of 31.53, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock valued at $22,794,835 over the last quarter. Insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

SNPS has been the subject of several research analyst reports. Wells Fargo & Company lowered their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Robert W. Baird dropped their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Piper Sandler decreased 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. Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

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.