Advisors Asset Management Inc. Has $3.54 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Advisors Asset Management Inc. lessened its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,289 shares of the semiconductor company's stock after selling 723 shares during the quarter. Advisors Asset Management Inc.'s holdings in Synopsys were worth $3,538,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Kieckhefer Group LLC acquired a new stake in Synopsys in the 4th quarter valued at approximately $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at approximately $33,000. Sierra Ocean LLC bought a new stake in shares of Synopsys in the fourth quarter worth $39,000. Newbridge Financial Services Group Inc. bought a new position in Synopsys in the fourth quarter valued at $51,000. Finally, Versant Capital Management Inc increased its stake in Synopsys by 109.3% in the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock valued at $55,000 after buying an additional 59 shares during the last quarter. 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 Synopsys 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 transaction, the executive now directly owns 1,460 shares of the company's stock, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock worth $22,794,835 in the last quarter. 0.62% of the stock is currently owned by corporate insiders.

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Synopsys Trading Down 0.1 %

SNPS stock traded down $0.54 during trading hours on Tuesday, hitting $457.23. 758,955 shares of the stock were exchanged, compared to its average volume of 1,020,532. The company has a 50-day simple moving average of $490.60 and a two-hundred day simple moving average of $506.31. The firm has a market capitalization of $70.70 billion, a P/E ratio of 31.49, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company lowered their price target 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. Morgan Stanley dropped their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Piper Sandler decreased their price objective on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Redburn Atlantic began coverage on shares of Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 target price on the stock. Finally, Robert W. Baird reduced their price target on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $638.58.

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.