Nikko Asset Management Americas Inc. Reduces Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Nikko Asset Management Americas Inc. lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,601 shares of the semiconductor company’s stock after selling 2,628 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Synopsys were worth $8,050,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Kieckhefer Group LLC purchased a new position in Synopsys during the 4th quarter valued at $27,000. Whipplewood Advisors LLC bought a new stake in Synopsys during the 4th quarter valued at $33,000. Sierra Ocean LLC bought a new stake in Synopsys during the 4th quarter valued at $39,000. Newbridge Financial Services Group Inc. bought a new stake in Synopsys during the 4th quarter valued at $51,000. Finally, Versant Capital Management Inc raised its position in Synopsys by 109.3% during the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS stock opened at $446.23 on Monday. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80. The stock’s fifty day moving average price is $495.89 and its 200 day moving average price is $508.30. The company has a market cap of $69.00 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Wall Street Analyst Weigh In

SNPS has been the subject of a number of research analyst reports. Redburn Atlantic initiated coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Robert W. Baird decreased their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Piper Sandler reduced their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Wells Fargo & Company reduced their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business’s 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 owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock worth $22,794,835 in the last ninety days. 0.62% of the stock is owned by 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.