Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Man Group plc

Man Group plc decreased its position in Synopsys, Inc. (NASDAQ:SNPS) by 34.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,480 shares of the semiconductor company’s stock after selling 63,322 shares during the period. Man Group plc’s holdings in Synopsys were worth $16,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of SNPS. BlackRock Inc. increased its holdings in shares of Synopsys by 4.5% in the second quarter. BlackRock Inc. now owns 12,891,437 shares of the semiconductor company’s stock valued at $1,658,997,000 after purchasing an additional 554,602 shares during the period. State Street Corp raised its stake in shares of Synopsys by 1.8% in the third quarter. State Street Corp now owns 6,590,909 shares of the semiconductor company’s stock worth $904,602,000 after purchasing an additional 118,002 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Synopsys by 18.1% in the second quarter. JPMorgan Chase & Co. now owns 6,228,559 shares of the semiconductor company’s stock worth $782,432,000 after purchasing an additional 955,527 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Synopsys by 33.9% during the second quarter. Invesco Ltd. now owns 3,505,038 shares of the semiconductor company’s stock worth $451,061,000 after purchasing an additional 888,033 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in shares of Synopsys by 63.1% during the third quarter. Voya Investment Management LLC now owns 2,062,231 shares of the semiconductor company’s stock worth $283,041,000 after purchasing an additional 798,176 shares during the period. Institutional investors own 88.10% of the company’s stock.

Shares of SNPS opened at $135.49 on Tuesday. The stock’s 50-day moving average price is $137.56 and its 200-day moving average price is $132.95. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $21.20 billion, a price-to-earnings ratio of 48.05, a PEG ratio of 3.46 and a beta of 1.20. Synopsys, Inc. has a 52 week low of $79.14 and a 52 week high of $146.66.

In other Synopsys news, VP Sudhindra Kankanwadi sold 8,011 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $144.30, for a total value of $1,155,987.30. Following the completion of the transaction, the vice president now directly owns 8,663 shares of the company’s stock, valued at $1,250,070.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.84% of the company’s stock.

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SNPS has been the subject of a number of recent research reports. Credit Suisse Group reissued a “positive” rating and set a $150.00 price target (up from $125.00) on shares of Synopsys in a research report on Thursday, August 22nd. KeyCorp upped their price objective on shares of Synopsys from $152.00 to $153.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Zacks Investment Research raised shares of Synopsys from a “sell” rating to a “hold” rating and set a $142.00 price objective on the stock in a report on Monday, August 26th. BidaskClub lowered shares of Synopsys from a “buy” rating to a “hold” rating in a research note on Saturday, October 19th. Finally, ValuEngine cut shares of Synopsys from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $148.30.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform, which provides 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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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