Great Lakes Advisors LLC Sells 582 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Great Lakes Advisors LLC lowered its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 21.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,070 shares of the semiconductor company's stock after selling 582 shares during the quarter. Great Lakes Advisors LLC's holdings in Synopsys were worth $1,005,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Caprock Group LLC increased its position in shares of Synopsys by 0.5% in 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 last quarter. Compagnie Lombard Odier SCmA boosted its stake in shares of Synopsys by 1.1% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock valued at $898,000 after buying an additional 20 shares during the period. Edge Capital Group LLC boosted its stake in shares of Synopsys by 1.2% in the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock valued at $791,000 after buying an additional 20 shares during the period. Barden Capital Management Inc. lifted its stake in Synopsys by 1.1% during the fourth 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 during the last quarter. Finally, Resurgent Financial Advisors LLC lifted its stake in Synopsys by 2.8% during the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company's stock worth $410,000 after purchasing an additional 22 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Redburn Atlantic started coverage on shares of Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 price target for the company. Rosenblatt Securities reiterated a "buy" rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Robert W. Baird decreased 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. Wells Fargo & Company decreased their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $638.58.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,909 shares of company stock valued at $22,794,835. Insiders own 0.62% of the company's stock.

Synopsys Stock Up 4.1 %

Shares of NASDAQ SNPS traded up $17.65 during mid-day trading on Friday, reaching $446.23. 1,118,063 shares of the company were exchanged, compared to its average volume of 1,228,387. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80. The stock has a market capitalization of $69.00 billion, a PE ratio of 30.73, a PEG ratio of 3.23 and a beta of 1.16. The company's 50 day moving average price is $495.89 and its 200 day moving average price is $508.31.

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.