First Hawaiian Bank Reduces Stake in Synopsys, Inc. (NASDAQ:SNPS)

First Hawaiian Bank lessened its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 12.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,686 shares of the semiconductor company's stock after selling 1,342 shares during the period. First Hawaiian Bank's holdings in Synopsys were worth $4,701,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Davidson Capital Management Inc. lifted its holdings in shares of Synopsys by 33,828.6% in the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company's stock worth $2,405,000 after buying an additional 4,736 shares during the period. Peloton Wealth Strategists lifted its stake in Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company's stock worth $1,459,000 after acquiring an additional 1,984 shares during the period. Swiss National Bank grew its holdings in Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company's stock worth $230,306,000 after acquiring an additional 3,200 shares in the last quarter. Parnassus Investments LLC purchased a new position in Synopsys during the 3rd quarter valued at about $633,469,000. Finally, Harvest Portfolios Group Inc. raised its holdings in shares of Synopsys by 3.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company's stock valued at $21,330,000 after purchasing an additional 1,496 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Synopsys Stock Performance

SNPS stock traded up $14.38 during trading on Wednesday, reaching $502.00. The company had a trading volume of 1,265,854 shares, compared to its average volume of 991,070. The company has a market cap of $77.60 billion, a price-to-earnings ratio of 34.57, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The firm has a 50-day simple moving average of $524.33 and a 200-day simple moving average of $530.82.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SNPS. Mizuho began coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price objective on the stock. Loop Capital started coverage on Synopsys in a report on Monday, November 11th. They issued a "buy" rating and a $675.00 price target on the stock. Needham & Company LLC restated a "buy" rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Rosenblatt Securities reiterated a "buy" rating and issued a $635.00 target price on shares of Synopsys in a research note on Wednesday, December 4th. Finally, Berenberg Bank assumed coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a "buy" rating and a $660.00 price target for the company. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and an average price target of $649.00.

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.