New York State Teachers Retirement System Cuts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

New York State Teachers Retirement System decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 126,493 shares of the semiconductor company’s stock after selling 9,663 shares during the period. New York State Teachers Retirement System’s holdings in Synopsys were worth $61,395,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new position in Synopsys during the 4th quarter valued at about $27,000. Hazlett Burt & Watson Inc. increased its position in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. Princeton Global Asset Management LLC bought a new stake in shares of Synopsys in the 3rd quarter valued at about $44,000. nVerses Capital LLC bought a new stake in shares of Synopsys in the 3rd quarter valued at about $51,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Synopsys in the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by insiders.

Synopsys Stock Down 1.1 %

SNPS stock opened at $522.53 on Friday. The firm has a 50 day moving average of $510.67 and a 200 day moving average of $518.23. The stock has a market capitalization of $80.77 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler lowered their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Robert W. Baird lowered their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. Finally, Wells Fargo & Company lowered their price target on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. One equities 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Synopsys 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.