Fjarde AP Fonden Fourth Swedish National Pension Fund Cuts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNPS. Hazlett Burt & Watson Inc. boosted 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 valued at $35,000 after acquiring an additional 20 shares during the last quarter. Caprock Group LLC lifted its position in Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock valued at $1,803,000 after purchasing an additional 20 shares during the period. Compagnie Lombard Odier SCmA grew its position in Synopsys by 1.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after purchasing an additional 20 shares during the period. Aptus Capital Advisors LLC raised its stake in Synopsys by 1.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock valued at $733,000 after buying an additional 22 shares during the last quarter. Finally, Resurgent Financial Advisors LLC raised its stake in Synopsys by 2.8% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after buying an additional 22 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on SNPS. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Robert W. Baird cut their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Loop Capital started coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Finally, Piper Sandler cut their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $474.84 on Monday. The stock 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. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The firm has a fifty day moving average price of $510.21 and a 200-day moving average price of $517.67.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’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 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 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 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.