Taikang Asset Management Hong Kong Co Ltd Has $5.72 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Taikang Asset Management Hong Kong Co Ltd lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 50.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,782 shares of the semiconductor company’s stock after selling 11,782 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in Synopsys were worth $5,719,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Caprock Group LLC grew its position in Synopsys by 0.5% in 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 in the last quarter. Compagnie Lombard Odier SCmA grew its holdings in shares of Synopsys by 1.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock valued at $898,000 after acquiring an additional 20 shares in the last quarter. Edge Capital Group LLC increased its position in shares of Synopsys by 1.2% in the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock valued at $791,000 after acquiring an additional 20 shares during the last quarter. Barden Capital Management Inc. raised its holdings in Synopsys by 1.1% during the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock worth $889,000 after acquiring an additional 20 shares in the last quarter. Finally, Resurgent Financial Advisors LLC boosted its position in Synopsys by 2.8% during the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 2.0 %

Shares of SNPS stock opened at $457.77 on Tuesday. Synopsys, Inc. has a 12-month low of $425.73 and a 12-month high of $624.80. The firm has a 50 day moving average price of $490.60 and a two-hundred day moving average price of $506.31. The company has a market capitalization of $70.78 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated 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 of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,909 shares of company stock valued at $22,794,835. Insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on SNPS. Robert W. Baird lowered their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Morgan Stanley dropped their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Redburn Atlantic started coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Finally, Piper Sandler reduced their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $638.58.

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.