O Shaughnessy Asset Management LLC Cuts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

O Shaughnessy Asset Management LLC reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,390 shares of the semiconductor company’s stock after selling 642 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Synopsys were worth $7,470,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rockefeller Capital Management L.P. purchased a new position in shares of Synopsys in the 3rd quarter valued at about $11,441,000. Captrust Financial Advisors lifted its stake in Synopsys by 8.1% in the third quarter. Captrust Financial Advisors now owns 4,994 shares of the semiconductor company’s stock worth $2,529,000 after acquiring an additional 374 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in Synopsys by 458.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 598 shares of the semiconductor company’s stock worth $303,000 after acquiring an additional 491 shares in the last quarter. Hilltop Holdings Inc. purchased a new stake in shares of Synopsys in the 3rd quarter valued at approximately $567,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Synopsys by 7.7% in the 3rd quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company’s stock valued at $577,289,000 after purchasing an additional 81,198 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Performance

Shares of Synopsys stock opened at $435.94 on Wednesday. Synopsys, Inc. has a one year low of $423.08 and a one year high of $624.80. The company has a market cap of $67.41 billion, a P/E ratio of 30.02, a PEG ratio of 3.23 and a beta of 1.16. The firm has a fifty day moving average of $481.79 and a two-hundred day moving average of $504.91.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % 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, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction 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 transaction, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % 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 over the last ninety days. 0.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Robert W. Baird decreased their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Morgan Stanley cut their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Finally, Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $638.58.

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.