Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by German American Bancorp Inc.

German American Bancorp Inc. reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 14.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,924 shares of the semiconductor company's stock after selling 1,495 shares during the period. German American Bancorp Inc.'s holdings in Synopsys were worth $4,331,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Caprock Group LLC grew its position in Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company's stock valued at $1,803,000 after acquiring an additional 20 shares during the period. Compagnie Lombard Odier SCmA lifted its stake in shares of Synopsys by 1.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock valued at $898,000 after purchasing an additional 20 shares in the last quarter. Edge Capital Group LLC grew its holdings in shares of Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock worth $791,000 after purchasing an additional 20 shares during the period. Barden Capital Management Inc. increased its position in Synopsys by 1.1% during the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock worth $889,000 after purchasing an additional 20 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after buying an additional 20 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Synopsys Stock Performance

Shares of SNPS stock traded up $14.32 during trading hours on Friday, hitting $421.21. 1,745,597 shares of the company were exchanged, compared to its average volume of 1,091,393. The stock has a market capitalization of $65.13 billion, a price-to-earnings ratio of 29.01, a P/E/G ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The business's 50-day simple moving average is $457.51 and its two-hundred day simple moving average is $498.01.

Analyst Ratings Changes

Several equities analysts recently weighed in on SNPS shares. Rosenblatt Securities restated a "buy" rating and set a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Piper Sandler lowered their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company reduced 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. Finally, Morgan Stanley lowered their price objective on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $638.58.

Insiders Place Their Bets

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm'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 transaction, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. 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 in the last quarter. Insiders own 0.62% of the company's stock.

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.