Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 3.9% in the fourth quarter, HoldingsChannel reports. The firm owned 19,500 shares of the semiconductor company’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Synopsys were worth $9,465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNPS. Parnassus Investments LLC acquired a new position in shares of Synopsys in the 3rd quarter valued at $633,469,000. Edgewood Management LLC raised its holdings in Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after buying an additional 487,025 shares during the period. Van ECK Associates Corp lifted its position in Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after buying an additional 335,993 shares during the last quarter. Impax Asset Management Group plc boosted its stake in Synopsys by 120.2% during the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after buying an additional 267,836 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Synopsys by 32.5% during the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after acquiring an additional 257,526 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on SNPS shares. Loop Capital initiated coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Berenberg Bank started coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. Mizuho began coverage on Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Finally, Robert W. Baird lowered their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $641.82.

Synopsys Price Performance

Synopsys stock opened at $529.14 on Wednesday. The stock has a market cap of $81.79 billion, a PE ratio of 36.44, a P/E/G ratio of 3.49 and a beta of 1.12. The stock’s fifty day moving average is $512.80 and its two-hundred day moving average is $518.34. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.