Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 98,460 shares of the semiconductor company’s stock after selling 1,465 shares during the quarter. Russell Investments Group Ltd.’s holdings in Synopsys were worth $47,803,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in SNPS. Kieckhefer Group LLC acquired a new position in Synopsys during the 4th quarter valued at approximately $27,000. Whipplewood Advisors LLC bought a new stake in Synopsys in the fourth quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Synopsys during the fourth quarter valued at $34,000. Sierra Ocean LLC acquired a new position in shares of Synopsys during the fourth quarter valued at $39,000. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 20 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,909 shares of company stock valued at $22,794,835. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SNPS. Needham & Company LLC reissued a “buy” rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Morgan Stanley reduced their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Piper Sandler decreased their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company decreased their price target 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. One equities 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.com, Synopsys has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Stock Down 7.1 %

SNPS opened at $388.13 on Monday. The stock has a fifty day moving average of $473.83 and a 200-day moving average of $503.14. The firm 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. Synopsys, Inc. has a 12-month low of $358.15 and a 12-month high of $624.80.

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.