Maryland State Retirement & Pension System Decreases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Maryland State Retirement & Pension System lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,235 shares of the semiconductor company’s stock after selling 540 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Synopsys were worth $3,997,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SNPS. Kieckhefer Group LLC bought a new stake in shares of Synopsys in the fourth quarter worth $27,000. Whipplewood Advisors LLC purchased a new position in Synopsys in the fourth quarter worth about $33,000. Sierra Ocean LLC bought a new stake in shares of Synopsys during the 4th quarter valued at about $39,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Synopsys during the 4th quarter valued at about $51,000. Finally, Versant Capital Management Inc increased its position in shares of 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 during the last quarter. Institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

SNPS has been the subject of several recent research reports. Morgan Stanley cut their target price on shares of 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 cut their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Wells Fargo & Company reduced their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Piper Sandler lowered 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. Finally, Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Trading Up 0.5 %

NASDAQ SNPS opened at $450.28 on Thursday. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80. The stock’s 50 day moving average is $493.11 and its 200 day moving average is $506.95. The stock has a market cap of $69.62 billion, a PE ratio of 31.01, a P/E/G ratio of 3.23 and a beta of 1.16.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated 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 sale, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $5,270,982.50. Following the completion of the sale, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

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.