AMF Tjanstepension AB Sells 11,268 Shares of Synopsys, Inc. (NASDAQ:SNPS)

AMF Tjanstepension AB cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 66.5% in the 4th quarter, Holdings Channel reports. The firm owned 5,664 shares of the semiconductor company’s stock after selling 11,268 shares during the period. AMF Tjanstepension AB’s holdings in Synopsys were worth $2,749,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kieckhefer Group LLC acquired a new position in shares of Synopsys during the fourth quarter worth $27,000. Whipplewood Advisors LLC acquired a new position in shares of Synopsys during the fourth quarter worth $33,000. Sierra Ocean LLC acquired a new position in shares of Synopsys during the fourth quarter worth $39,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Synopsys during the fourth quarter worth $51,000. Finally, Versant Capital Management Inc increased its holdings in shares of Synopsys by 109.3% during the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after buying an additional 59 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SNPS. Needham & Company LLC reiterated a “buy” rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Morgan Stanley lowered their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Robert W. Baird lowered their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Wells Fargo & Company decreased their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Finally, Piper Sandler decreased their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Trading Up 1.2 %

Shares of Synopsys stock opened at $450.88 on Friday. The business has a 50-day moving average price of $501.21 and a two-hundred day moving average price of $512.03. Synopsys, Inc. has a 1-year low of $429.77 and a 1-year high of $624.80. The company has a market cap of $69.72 billion, a P/E ratio of 31.05, a PEG ratio of 3.23 and a beta of 1.16.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the sale, the chief executive officer now owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.

Synopsys Company 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.