Maryland State Retirement & Pension System boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 22.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,194 shares of the semiconductor company’s stock after buying an additional 1,693 shares during the period. Maryland State Retirement & Pension System’s holdings in Synopsys were worth $4,536,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of SNPS. Lionshead Wealth Management LLC grew its stake in shares of Synopsys by 1.9% in the second quarter. Lionshead Wealth Management LLC now owns 914 shares of the semiconductor company’s stock worth $469,000 after acquiring an additional 17 shares during the last quarter. YANKCOM Partnership grew its position in Synopsys by 3.3% in the 2nd quarter. YANKCOM Partnership now owns 537 shares of the semiconductor company’s stock worth $275,000 after purchasing an additional 17 shares during the last quarter. Manchester Capital Management LLC increased its holdings in shares of Synopsys by 5.3% during the 2nd quarter. Manchester Capital Management LLC now owns 340 shares of the semiconductor company’s stock worth $174,000 after purchasing an additional 17 shares during the period. Hemington Wealth Management raised its position in shares of Synopsys by 10.1% during the second quarter. Hemington Wealth Management now owns 197 shares of the semiconductor company’s stock valued at $100,000 after buying an additional 18 shares during the last quarter. Finally, Concord Asset Management LLC VA raised its position in shares of Synopsys by 0.8% during the second quarter. Concord Asset Management LLC VA now owns 2,379 shares of the semiconductor company’s stock valued at $1,220,000 after buying an additional 18 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.
Synopsys Trading Up 1.6%
Shares of SNPS opened at $516.31 on Monday. The company has a current ratio of 1.62, a quick ratio of 1.52 and a debt-to-equity ratio of 0.48. The stock has a market cap of $98.78 billion, a PE ratio of 64.62, a PEG ratio of 4.30 and a beta of 1.12. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. The stock has a 50 day simple moving average of $455.35 and a 200-day simple moving average of $504.83.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. Needham & Company LLC lifted their target price on Synopsys from $550.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Zacks Research upgraded Synopsys from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Piper Sandler cut Synopsys from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $602.00 to $520.00 in a research report on Tuesday, January 13th. Weiss Ratings restated a “hold (c)” rating on shares of Synopsys in a research note on Wednesday, October 8th. Finally, Morgan Stanley lifted their price target on shares of Synopsys from $510.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Synopsys currently has an average rating of “Hold” and an average target price of $553.57.
Check Out Our Latest Stock Analysis on SNPS
Insider Transactions at Synopsys
In related news, CFO Shelagh Glaser sold 3,657 shares of Synopsys stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $460.77, for a total transaction of $1,685,035.89. Following the completion of the transaction, the chief financial officer directly owned 17,842 shares of the company’s stock, valued at $8,221,058.34. This trade represents a 17.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Janet Lee sold 250 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $530.00, for a total transaction of $132,500.00. Following the sale, the insider directly owned 11,959 shares in the company, valued at $6,338,270. This represents a 2.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,157 shares of company stock valued at $1,945,036 in the last quarter. 0.62% of the stock is currently owned by corporate insiders.
About Synopsys
Synopsys, Inc is a leading provider of electronic design automation (EDA) software and semiconductor intellectual property (IP) used to design, verify and manufacture integrated circuits and complex systems-on-chip (SoCs). Its product portfolio spans tools and technologies for front?end design and synthesis, simulation and verification, physical implementation and signoff, and design-for-manufacturability, enabling chip designers to move from architecture through tape?out.
In addition to core EDA offerings, Synopsys supplies a broad set of semiconductor IP building blocks — such as interface, memory and analog/mixed-signal cores — that customers integrate into SoCs to accelerate development.
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