Cibc World Markets Corp Boosts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Cibc World Markets Corp boosted its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 14.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,620 shares of the semiconductor company's stock after buying an additional 3,485 shares during the period. Cibc World Markets Corp's holdings in Synopsys were worth $13,406,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company's stock worth $3,518,637,000 after acquiring an additional 119,057 shares during the last quarter. Geode Capital Management LLC raised its position in Synopsys by 1.9% in the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company's stock valued at $1,656,005,000 after purchasing an additional 61,799 shares during the period. Edgewood Management LLC lifted its stake in Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company's stock worth $1,554,540,000 after purchasing an additional 487,025 shares in the last quarter. Parnassus Investments LLC purchased a new stake in shares of Synopsys in the 3rd quarter valued at $633,469,000. Finally, Janus Henderson Group PLC lifted its stake in Synopsys by 7.7% during the 3rd quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company's stock worth $577,289,000 after acquiring an additional 81,198 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

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Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction that occurred on 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 directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock valued at $22,794,835 over the last quarter. Company insiders own 0.62% of the company's stock.

Synopsys Price Performance

Shares of SNPS traded down $1.39 during midday trading on Friday, reaching $448.60. 3,362,030 shares of the stock were exchanged, compared to its average volume of 1,025,478. Synopsys, Inc. has a twelve month low of $425.73 and a twelve month high of $624.80. The company has a market capitalization of $69.36 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 3.23 and a beta of 1.16. The business's 50-day moving average price is $492.07 and its 200 day moving average price is $506.55.

Analyst Ratings Changes

A number of analysts have issued reports on SNPS shares. Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They set a "buy" rating and a $600.00 price target on the stock. Wells Fargo & Company decreased their price target on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities reaffirmed a "buy" rating and set a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Piper Sandler decreased their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Finally, Robert W. Baird cut their price target on Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $638.58.

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.