Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Man Group plc

Man Group plc lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 73.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,699 shares of the semiconductor company’s stock after selling 41,669 shares during the quarter. Man Group plc’s holdings in Synopsys were worth $7,134,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Whipplewood Advisors LLC acquired a new position in shares of Synopsys in the 4th quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Synopsys in the 4th quarter valued at $34,000. Sierra Ocean LLC acquired a new position in shares of Synopsys in the 4th quarter valued at $39,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 20 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Synopsys by 50.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 33 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on SNPS shares. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. KeyCorp reduced their target price on shares of Synopsys from $690.00 to $555.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a report on Monday, April 28th. Rosenblatt Securities restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Finally, Bank of America reduced their target price on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average target price of $613.43.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, March 3rd. The shares were 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 owns 70,922 shares of the company’s stock, valued at $32,890,077.50. The trade was a 13.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now directly owns 116,671 shares of the company’s stock, valued at $51,850,925.82. The trade was a 11.86% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.

Synopsys Price Performance

Synopsys stock opened at $516.01 on Tuesday. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The company has a market capitalization of $79.79 billion, a price-to-earnings ratio of 35.54, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The firm’s fifty day moving average price is $446.11 and its 200 day moving average price is $488.94.

About Synopsys

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.