Oregon Public Employees Retirement Fund Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Oregon Public Employees Retirement Fund increased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,169 shares of the semiconductor company’s stock after purchasing an additional 49 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Synopsys were worth $6,392,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SNPS. Arkadios Wealth Advisors increased its stake in Synopsys by 13.2% in the 3rd quarter. Arkadios Wealth Advisors now owns 912 shares of the semiconductor company’s stock worth $462,000 after acquiring an additional 106 shares during the last quarter. abrdn plc increased its stake in Synopsys by 8.2% in the 3rd quarter. abrdn plc now owns 77,099 shares of the semiconductor company’s stock worth $39,130,000 after acquiring an additional 5,850 shares during the last quarter. Integrated Advisors Network LLC increased its stake in Synopsys by 243.1% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,726 shares of the semiconductor company’s stock worth $874,000 after acquiring an additional 1,223 shares during the last quarter. Strategic Blueprint LLC increased its stake in Synopsys by 4.9% in the 3rd quarter. Strategic Blueprint LLC now owns 687 shares of the semiconductor company’s stock worth $348,000 after acquiring an additional 32 shares during the last quarter. Finally, WD Rutherford LLC increased its stake in Synopsys by 47.7% in the 3rd quarter. WD Rutherford LLC now owns 1,647 shares of the semiconductor company’s stock worth $834,000 after acquiring an additional 532 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Synopsys

In other Synopsys news, 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 completion of the sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is owned by company insiders.

Synopsys Stock Up 2.7 %

SNPS opened at $470.46 on Thursday. The business has a fifty day moving average of $507.61 and a 200 day moving average of $516.56. Synopsys, Inc. has a 52-week low of $457.00 and a 52-week high of $624.80. The stock has a market cap of $72.72 billion, a P/E ratio of 32.40, a PEG ratio of 3.23 and a beta of 1.12.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Piper Sandler reduced their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Loop Capital began coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. Finally, Wells Fargo & Company cut their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $639.58.

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.