Temasek Holdings Private Ltd Reduces Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Temasek Holdings Private Ltd cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 38.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,914 shares of the semiconductor company’s stock after selling 42,386 shares during the quarter. Temasek Holdings Private Ltd’s holdings in Synopsys were worth $32,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Synopsys during the fourth quarter valued at approximately $583,608,000. Price T Rowe Associates Inc. MD increased its position in Synopsys by 21.5% during 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 purchasing an additional 1,045,326 shares during the period. Capital Research Global Investors purchased a new position in Synopsys during the 4th quarter valued at $239,864,000. Raymond James Financial Inc. bought a new position in Synopsys in the 4th quarter worth $199,065,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Synopsys by 26.2% in the 4th 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 during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This trade represents a 11.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was 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 of the company’s stock, valued at $32,890,077.50. This represents 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 insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SNPS. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Wells Fargo & Company reduced their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Piper Sandler lowered their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. KeyCorp reduced their price target on Synopsys from $690.00 to $555.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Finally, Mizuho decreased their price objective on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and a consensus target price of $613.43.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $514.43 on Friday. The business has a fifty day moving average price of $444.44 and a 200-day moving average price of $489.13. The company has a market capitalization of $79.54 billion, a PE ratio of 35.43, a PEG 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.

About Synopsys

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.