Asset Management One Co. Ltd. Trims Stake in Synopsys, Inc. (NASDAQ:SNPS)

Asset Management One Co. Ltd. reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,441 shares of the semiconductor company’s stock after selling 97 shares during the period. Asset Management One Co. Ltd.’s holdings in Synopsys were worth $35,071,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Avestar Capital LLC increased its holdings in Synopsys by 24.0% during the fourth quarter. Avestar Capital LLC now owns 1,924 shares of the semiconductor company’s stock valued at $934,000 after buying an additional 372 shares during the last quarter. Fiera Capital Corp increased its holdings in Synopsys by 33.8% during the fourth quarter. Fiera Capital Corp now owns 196,391 shares of the semiconductor company’s stock valued at $95,320,000 after buying an additional 49,653 shares during the last quarter. Legato Capital Management LLC increased its holdings in Synopsys by 5.9% during the fourth quarter. Legato Capital Management LLC now owns 2,500 shares of the semiconductor company’s stock valued at $1,213,000 after buying an additional 140 shares during the last quarter. Harvey Capital Management Inc. purchased a new stake in Synopsys during the fourth quarter valued at approximately $2,308,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Synopsys by 1.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 54,412 shares of the semiconductor company’s stock valued at $26,268,000 after buying an additional 587 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of research reports. Mizuho started coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Piper Sandler reduced their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Finally, 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 objective for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $641.82.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated 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 owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.66% of the stock is currently owned by insiders.

Synopsys Price Performance

SNPS stock opened at $522.53 on Friday. The company has a market capitalization of $80.77 billion, a PE ratio of 35.99, a P/E/G ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The firm’s 50-day moving average is $510.67 and its 200 day moving average is $518.23.

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.