Russell Investments Group Ltd. Trims Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Russell Investments Group Ltd. lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,460 shares of the semiconductor company’s stock after selling 1,465 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of Synopsys worth $47,803,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SNPS. Norges Bank purchased a new stake in shares of Synopsys during the fourth quarter worth about $583,608,000. Raymond James Financial Inc. purchased a new stake in Synopsys in the 4th quarter worth approximately $199,065,000. Proficio Capital Partners LLC raised its holdings in Synopsys by 71,578.5% in the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after acquiring an additional 385,808 shares during the last quarter. Alecta Tjanstepension Omsesidigt purchased a new position in shares of Synopsys during the 4th quarter worth $104,741,000. Finally, American Century Companies Inc. boosted its holdings in shares of Synopsys by 38.7% during the fourth quarter. American Century Companies Inc. now owns 571,474 shares of the semiconductor company’s stock worth $277,371,000 after purchasing an additional 159,344 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction dated 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 owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SNPS. Piper Sandler dropped their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Needham & Company LLC reissued a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Wells Fargo & Company dropped their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Finally, Morgan Stanley decreased their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Price Performance

NASDAQ:SNPS opened at $388.13 on Monday. The business’s 50-day moving average is $473.83 and its two-hundred day moving average is $503.14. The firm has a market capitalization of $60.01 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 12 month low of $358.15 and a 12 month high of $624.80.

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.