Teacher Retirement System of Texas Has $4.40 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Teacher Retirement System of Texas cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 20.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,061 shares of the semiconductor company’s stock after selling 2,358 shares during the quarter. Teacher Retirement System of Texas’ holdings in Synopsys were worth $4,398,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Kieckhefer Group LLC bought a new position in Synopsys during the fourth quarter worth $27,000. Whipplewood Advisors LLC bought a new position in shares of Synopsys during the 4th quarter worth about $33,000. Sierra Ocean LLC bought a new position in shares of Synopsys during the 4th quarter worth about $39,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Synopsys in the 4th quarter valued at about $51,000. Finally, Versant Capital Management Inc increased its position in Synopsys by 109.3% in the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 59 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

Shares of SNPS stock opened at $457.77 on Tuesday. Synopsys, Inc. has a 52-week low of $425.73 and a 52-week high of $624.80. The company has a 50-day simple moving average of $490.60 and a two-hundred day simple moving average of $506.31. The company has a market capitalization of $70.78 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 3.23 and a beta of 1.16.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Piper Sandler reduced their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic began coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Rosenblatt Securities restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Wells Fargo & Company reduced their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Finally, Robert W. Baird lowered their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock valued at $22,794,835 over the last three months. Corporate insiders own 0.62% of the company’s stock.

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.