Polymer Capital Management HK LTD Sells 9,752 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Polymer Capital Management HK LTD trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 90.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,023 shares of the semiconductor company’s stock after selling 9,752 shares during the period. Polymer Capital Management HK LTD’s holdings in Synopsys were worth $497,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Peloton Wealth Strategists raised its holdings in Synopsys by 221.2% during the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after acquiring an additional 1,984 shares during the period. Nordea Investment Management AB boosted its stake in Synopsys by 15.9% in the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after purchasing an additional 143,284 shares during the period. James Hambro & Partners LLP grew its holdings in Synopsys by 30.9% during the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock valued at $97,725,000 after buying an additional 47,527 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Synopsys by 53.2% during the third quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company’s stock valued at $13,304,000 after buying an additional 9,124 shares during the last quarter. Finally, Synovus Financial Corp lifted its holdings in shares of Synopsys by 199.2% in the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock worth $7,627,000 after buying an additional 10,028 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNPS. Morgan Stanley reduced their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Price Performance

SNPS stock opened at $388.13 on Monday. Synopsys, Inc. has a 1-year low of $358.15 and a 1-year high of $624.80. The business has a 50-day moving average price of $473.83 and a 200 day moving average price of $503.14. The company has a market capitalization of $60.01 billion, a P/E ratio of 26.73, a PEG ratio of 3.23 and a beta of 1.23.

Insider Activity

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’s 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 sale, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

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.