Great Lakes Advisors LLC Lowers Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Great Lakes Advisors LLC lessened its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 21.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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.

A number of other institutional investors have also recently added to or reduced their stakes in SNPS. Kieckhefer Group LLC acquired a new stake in shares of Synopsys in the 4th quarter worth $27,000. Whipplewood Advisors LLC acquired a new stake in Synopsys during the fourth quarter worth about $33,000. Sierra Ocean LLC acquired a new stake in Synopsys during the fourth quarter worth about $39,000. Newbridge Financial Services Group Inc. purchased a new position in Synopsys during the fourth quarter worth about $51,000. Finally, Versant Capital Management Inc boosted its holdings in Synopsys by 109.3% in the 4th 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. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Activity at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock valued at $22,794,835 over the last quarter. 0.62% of the stock is owned by insiders.

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Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNPS. Rosenblatt Securities restated a "buy" rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Needham & Company LLC restated a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Wells Fargo & Company dropped their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Finally, Piper Sandler dropped their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Synopsys currently has an average rating of "Moderate Buy" and an average price target of $638.58.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded up $11.02 during trading hours on Monday, reaching $457.25. The stock had a trading volume of 785,236 shares, compared to its average volume of 1,218,017. The stock has a market capitalization of $70.70 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 3.23 and a beta of 1.16. The firm's 50 day moving average is $495.89 and its 200-day moving average is $508.30. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80.

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.