Illinois Municipal Retirement Fund Has $21.93 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Illinois Municipal Retirement Fund reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 24.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,184 shares of the semiconductor company’s stock after selling 14,422 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Synopsys were worth $21,931,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Kieckhefer Group LLC bought a new stake in Synopsys in the 4th quarter valued at approximately $27,000. Hazlett Burt & Watson Inc. increased its holdings in shares of Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares during the last quarter. Sierra Ocean LLC acquired a new position in Synopsys in the 4th quarter valued at $39,000. Princeton Global Asset Management LLC acquired a new position in Synopsys in the 3rd quarter valued at $44,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Synopsys in the 4th quarter valued at $51,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Down 1.0 %

Synopsys stock opened at $470.08 on Tuesday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $624.80. The firm has a market cap of $72.66 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 3.23 and a beta of 1.12. The stock has a fifty day simple moving average of $509.17 and a two-hundred day simple moving average of $517.36.

Insider Activity at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was 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 in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on SNPS. Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective for the company. Piper Sandler lowered their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Robert W. Baird lowered their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Finally, Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus target price of $637.50.

Synopsys Company 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.