Corient Private Wealth LLC Decreases Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Corient Private Wealth LLC trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 72.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,519 shares of the semiconductor company's stock after selling 77,492 shares during the period. Corient Private Wealth LLC's holdings in Synopsys were worth $14,328,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Kieckhefer Group LLC purchased a new position in Synopsys in the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC purchased a new position in Synopsys in the fourth quarter valued at approximately $33,000. Sierra Ocean LLC purchased a new position in Synopsys in the fourth quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. purchased a new position in Synopsys in the fourth quarter valued at approximately $51,000. Finally, Versant Capital Management Inc increased its stake in Synopsys by 109.3% in the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock valued at $55,000 after purchasing an additional 59 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction 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. The trade was a 13.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,909 shares of company stock worth $22,794,835. Corporate insiders own 0.62% of the company's stock.

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Synopsys Stock Down 0.3 %

Shares of NASDAQ SNPS traded down $1.39 during mid-day trading on Friday, hitting $448.60. 3,362,089 shares of the company were exchanged, compared to its average volume of 1,020,823. The stock has a 50 day simple moving average of $491.19 and a 200-day simple moving average of $506.23. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80. The firm has a market cap of $69.36 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of research reports. Wells Fargo & Company lowered their target price on shares of 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 lowered their target price 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. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 target price on the stock. Rosenblatt Securities restated a "buy" rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Needham & Company LLC restated a "buy" rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $638.58.

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.