Nissay Asset Management Corp Japan ADV decreased its position in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,617 shares of the semiconductor company’s stock after selling 520 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Synopsys were worth $8,736,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in SNPS. Cibc World Market Inc. grew its position in shares of Synopsys by 58.8% in the 1st quarter. Cibc World Market Inc. now owns 11,893 shares of the semiconductor company’s stock worth $3,964,000 after acquiring an additional 4,402 shares in the last quarter. Prudential PLC acquired a new position in Synopsys during the 1st quarter valued at approximately $993,000. Sequoia Financial Advisors LLC acquired a new position in Synopsys during the 1st quarter valued at approximately $240,000. Covestor Ltd boosted its position in Synopsys by 18.9% during the 1st quarter. Covestor Ltd now owns 271 shares of the semiconductor company’s stock valued at $90,000 after purchasing an additional 43 shares during the period. Finally, Mather Group LLC. boosted its position in Synopsys by 64.4% during the 1st quarter. Mather Group LLC. now owns 1,680 shares of the semiconductor company’s stock valued at $560,000 after purchasing an additional 658 shares during the period. Institutional investors and hedge funds own 84.12% of the company’s stock.
Synopsys Stock Performance
SNPS opened at $459.14 on Monday. The stock’s fifty day moving average is $445.26 and its 200-day moving average is $411.69. The company has a market capitalization of $69.84 billion, a PE ratio of 68.84, a P/E/G ratio of 3.55 and a beta of 1.11. Synopsys, Inc. has a one year low of $267.00 and a one year high of $471.15.
Insider Buying and Selling at Synopsys
In other Synopsys news, CEO Geus Aart De sold 40,839 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $428.18, for a total value of $17,486,443.02. Following the transaction, the chief executive officer now owns 94,421 shares in the company, valued at $40,429,183.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Synopsys news, CAO Sudhindra Kankanwadi sold 5,100 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $460.75, for a total value of $2,349,825.00. Following the transaction, the chief accounting officer now owns 16,793 shares in the company, valued at $7,737,374.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Geus Aart De sold 40,839 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $428.18, for a total value of $17,486,443.02. Following the completion of the transaction, the chief executive officer now owns 94,421 shares in the company, valued at approximately $40,429,183.78. The disclosure for this sale can be found here. Insiders have sold 97,703 shares of company stock worth $43,025,310 over the last 90 days. 0.69% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Synopsys from $491.00 to $505.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. Rosenblatt Securities restated a “buy” rating and set a $485.00 price objective on shares of Synopsys in a research report on Wednesday, August 23rd. JPMorgan Chase & Co. boosted their price objective on Synopsys from $470.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, August 17th. KeyCorp lifted their target price on Synopsys from $500.00 to $515.00 and gave the company an “overweight” rating in a research note on Thursday, August 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $500.00 target price on shares of Synopsys in a research note on Tuesday, August 15th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Synopsys has an average rating of “Buy” and a consensus price target of $462.50.
Read Our Latest Research Report on SNPS
Synopsys Company Profile
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. 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.
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