Fjarde AP Fonden Fourth Swedish National Pension Fund Decreases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 31,379 shares of the semiconductor company’s stock after selling 500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Synopsys were worth $15,230,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Parnassus Investments LLC bought a new stake in shares of Synopsys in the 3rd quarter worth about $633,469,000. Edgewood Management LLC grew its position in Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares in the last quarter. Van ECK Associates Corp increased its stake in Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after acquiring an additional 335,993 shares during the last quarter. Impax Asset Management Group plc raised its position in Synopsys by 120.2% during the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after purchasing an additional 267,836 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after purchasing an additional 257,526 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 3.9 %

Shares of NASDAQ SNPS opened at $474.84 on Monday. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The firm has a market cap of $73.40 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. The business has a fifty day simple moving average of $510.21 and a two-hundred day simple moving average of $517.67.

Analyst Upgrades and Downgrades

SNPS has been the topic of several analyst reports. Piper Sandler cut their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Robert W. Baird cut their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a research note on Wednesday, December 4th. Finally, Loop Capital started coverage on shares of Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. One 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $641.82.

Insider Activity at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is currently owned by corporate insiders.

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.