Securian Asset Management Inc. Sells 201 Shares of Synopsys, Inc. (NASDAQ:SNPS)

by · The Markets Daily

Securian Asset Management Inc. reduced its position in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,297 shares of the semiconductor company’s stock after selling 201 shares during the quarter. Securian Asset Management Inc.’s holdings in Synopsys were worth $4,027,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Peloton Wealth Strategists increased its holdings in Synopsys by 221.2% in the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after buying an additional 1,984 shares during the period. Swiss National Bank increased its holdings in Synopsys by 0.7% in the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after buying an additional 3,200 shares during the period. Parnassus Investments LLC bought a new position in Synopsys in the 3rd quarter valued at about $633,469,000. Nordea Investment Management AB boosted its stake in shares of Synopsys by 15.9% in the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after purchasing an additional 143,284 shares in the last quarter. Finally, James Hambro & Partners LLP boosted its stake in shares of Synopsys by 30.9% in the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock valued at $97,725,000 after purchasing an additional 47,527 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SNPS shares. Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Needham & Company LLC restated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Piper Sandler reduced their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Finally, Robert W. Baird reduced their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Read Our Latest Stock Analysis on SNPS

Synopsys Stock Up 0.4 %

NASDAQ:SNPS opened at $432.46 on Thursday. The company has a fifty day moving average of $497.92 and a 200-day moving average of $509.52. The firm has a market capitalization of $66.87 billion, a P/E ratio of 29.78, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a twelve month low of $427.30 and a twelve month high of $624.80.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction 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 completion of the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the sale, 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. Insiders sold 47,909 shares of company stock worth $22,794,835 in the last quarter. 0.62% of the stock is owned by corporate insiders.

Synopsys Company Profile

(Free Report)

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.

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