Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 90.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,023 shares of the semiconductor company’s stock after selling 9,752 shares during the quarter. Polymer Capital Management HK LTD’s holdings in Synopsys were worth $497,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNPS. Peloton Wealth Strategists increased its holdings in shares of Synopsys by 221.2% during the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after acquiring an additional 1,984 shares in the last quarter. Nordea Investment Management AB grew its position in Synopsys by 15.9% during the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after purchasing an additional 143,284 shares during the last quarter. James Hambro & Partners LLP grew its position in Synopsys by 30.9% during the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock worth $97,725,000 after purchasing an additional 47,527 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in Synopsys by 53.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company’s stock valued at $13,304,000 after purchasing an additional 9,124 shares in the last quarter. Finally, Synovus Financial Corp raised its holdings in shares of Synopsys by 199.2% in the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock worth $7,627,000 after buying an additional 10,028 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Price Performance

SNPS opened at $388.13 on Monday. The stock has a market cap of $60.01 billion, a P/E ratio of 26.73, a P/E/G ratio of 3.23 and a beta of 1.23. The firm has a fifty day moving average price of $473.83 and a 200 day moving average price of $503.14. Synopsys, Inc. has a 1 year low of $358.15 and a 1 year high of $624.80.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several research reports. Redburn Atlantic initiated coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Piper Sandler dropped their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company reduced their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Finally, Morgan Stanley dropped their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $638.58.

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction 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 the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,909 shares of company stock worth $22,794,835. Company insiders own 0.62% of the company’s stock.

Synopsys Company 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.