Bessemer Group Inc. Sells 426 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Bessemer Group Inc. lessened its position in Synopsys, Inc. (NASDAQ:SNPS) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,691 shares of the semiconductor company’s stock after selling 426 shares during the period. Bessemer Group Inc.’s holdings in Synopsys were worth $1,792,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Synopsys during the fourth quarter worth approximately $583,608,000. Raymond James Financial Inc. bought a new stake in Synopsys in the 4th quarter valued at $199,065,000. Proficio Capital Partners LLC lifted its holdings in Synopsys by 71,578.5% during the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after purchasing an additional 385,808 shares during the last quarter. Alecta Tjanstepension Omsesidigt bought a new position in Synopsys during the fourth quarter worth $104,741,000. Finally, American Century Companies Inc. increased its holdings in shares of Synopsys by 38.7% in the fourth quarter. American Century Companies Inc. now owns 571,474 shares of the semiconductor company’s stock valued at $277,371,000 after purchasing an additional 159,344 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction on 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 in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,909 shares of company stock worth $22,794,835. Corporate insiders own 0.62% of the company’s stock.

Synopsys Stock Up 3.5 %

Shares of Synopsys stock opened at $421.21 on Monday. 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 $65.13 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 3.23 and a beta of 1.23. The firm’s 50-day moving average price is $457.51 and its two-hundred day moving average price is $498.01.

Analyst Ratings Changes

A number of research firms have recently issued reports on SNPS. Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Rosenblatt Securities restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Morgan Stanley dropped their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Piper Sandler decreased their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, Wells Fargo & Company lowered their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.