Public Employees Retirement System of Ohio Sells 3,965 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Public Employees Retirement System of Ohio trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,175 shares of the semiconductor company’s stock after selling 3,965 shares during the period. Public Employees Retirement System of Ohio’s holdings in Synopsys were worth $33,575,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after buying an additional 120,575 shares in the last quarter. Capital World Investors grew its holdings in Synopsys by 1.6% during the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company’s stock worth $3,533,526,000 after acquiring an additional 114,893 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Synopsys by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock valued at $2,864,933,000 after acquiring an additional 1,045,326 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Synopsys by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock worth $1,625,230,000 after acquiring an additional 75,298 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Synopsys by 26.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock worth $916,441,000 after purchasing an additional 391,681 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 0.9%

Shares of SNPS opened at $498.85 on Friday. The stock has a market cap of $77.13 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The stock’s 50-day moving average price is $450.97 and its two-hundred day moving average price is $488.91.

Wall Street Analyst Weigh In

Several analysts have recently commented on SNPS shares. Mizuho decreased their price target on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company lowered their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. KeyCorp set a $575.00 price target on Synopsys and gave the company an “overweight” rating in a research note on Tuesday. Morgan Stanley lowered their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Finally, Piper Sandler dropped 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 equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and a consensus price target of $614.86.

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. 0.62% of the stock is currently owned by corporate insiders.

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.