Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 8.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 337,531 shares of the semiconductor company’s stock after buying an additional 26,220 shares during the quarter. New York State Common Retirement Fund owned about 0.22% of Synopsys worth $163,824,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Kieckhefer Group LLC acquired a new stake in Synopsys in the fourth quarter valued at $27,000. Hazlett Burt & Watson Inc. lifted its stake in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. Sierra Ocean LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at about $39,000. Princeton Global Asset Management LLC purchased a new stake in Synopsys during the third quarter worth about $44,000. Finally, nVerses Capital LLC acquired a new position in Synopsys during the third quarter worth about $51,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. Piper Sandler lowered their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. 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. Finally, Loop Capital assumed 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. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction 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 completion of the transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

Synopsys Trading Up 0.5 %

NASDAQ:SNPS opened at $525.00 on Wednesday. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The firm has a market cap of $81.15 billion, a price-to-earnings ratio of 36.16, a price-to-earnings-growth ratio of 3.42 and a beta of 1.12. The company’s 50-day moving average is $511.06 and its two-hundred day moving average is $517.59.

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.