Kentucky Retirement Systems Sells 145 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Kentucky Retirement Systems lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.4% in the 4th quarter, Holdings Channel reports. The firm owned 10,529 shares of the semiconductor company’s stock after selling 145 shares during the period. Kentucky Retirement Systems’ holdings in Synopsys were worth $5,110,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Foundations Investment Advisors LLC grew its holdings in Synopsys by 2.5% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,368 shares of the semiconductor company’s stock valued at $693,000 after buying an additional 33 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Synopsys by 57,616.1% during the 3rd quarter. International Assets Investment Management LLC now owns 239,522 shares of the semiconductor company’s stock valued at $121,292,000 after acquiring an additional 239,107 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Synopsys by 39.2% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 5,243 shares of the semiconductor company’s stock valued at $2,655,000 after purchasing an additional 1,477 shares in the last quarter. Silver Oak Securities Incorporated bought a new stake in Synopsys in the third quarter worth $715,000. Finally, Cromwell Holdings LLC raised its stake in Synopsys by 19.1% during the third quarter. Cromwell Holdings LLC now owns 504 shares of the semiconductor company’s stock valued at $255,000 after purchasing an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 3.9 %

SNPS opened at $474.84 on Friday. The business has a fifty day moving average of $510.88 and a 200 day moving average of $517.44. The stock has a market cap of $73.40 billion, a P/E ratio of 32.70, a PEG ratio of 3.28 and a beta of 1.12. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38.

Analyst Ratings Changes

A number of brokerages have commented on SNPS. Needham & Company LLC reissued 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 dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Redburn Atlantic assumed coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Finally, 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. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $641.82.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’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 in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.