iA Global Asset Management Inc. Decreases Stake in Synopsys, Inc. (NASDAQ:SNPS)

iA Global Asset Management Inc. reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 13.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 31,947 shares of the semiconductor company’s stock after selling 4,762 shares during the period. iA Global Asset Management Inc.’s holdings in Synopsys were worth $15,506,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Talos Asset Management LP purchased a new position in Synopsys in the 4th quarter worth approximately $16,842,000. Royal London Asset Management Ltd. increased its stake in Synopsys by 2.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 168,251 shares of the semiconductor company’s stock worth $81,662,000 after purchasing an additional 4,092 shares during the period. Algebris UK Ltd bought a new stake in shares of Synopsys in the 4th quarter worth approximately $597,000. Generali Investments Management Co LLC bought a new stake in shares of Synopsys in the 4th quarter worth approximately $889,000. Finally, Investment House LLC grew its position in shares of Synopsys by 247.9% in the 4th quarter. Investment House LLC now owns 4,989 shares of the semiconductor company’s stock worth $2,421,000 after buying an additional 3,555 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Up 0.5 %

NASDAQ SNPS opened at $450.28 on Thursday. The stock’s 50 day moving average is $493.11 and its 200 day moving average is $506.95. Synopsys, Inc. has a twelve month low of $425.73 and a twelve month high of $624.80. The firm has a market capitalization of $69.62 billion, a PE ratio of 31.01, a P/E/G ratio of 3.23 and a beta of 1.16.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SNPS shares. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Robert W. Baird cut their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Piper Sandler cut their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $638.58.

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.