National Bank of Canada FI Has $39.10 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

National Bank of Canada FI decreased its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 26.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,561 shares of the semiconductor company's stock after selling 29,219 shares during the period. National Bank of Canada FI owned approximately 0.05% of Synopsys worth $39,101,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SNPS. Norges Bank bought a new position in Synopsys during the fourth quarter worth about $583,608,000. Raymond James Financial Inc. bought a new position in Synopsys during the fourth quarter worth $199,065,000. Proficio Capital Partners LLC raised its holdings in Synopsys by 71,578.5% in the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company's stock valued at $187,517,000 after acquiring an additional 385,808 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Synopsys by 32.5% during the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company's stock worth $531,056,000 after buying an additional 257,526 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in shares of Synopsys in the fourth quarter valued at approximately $104,741,000. Institutional investors own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Wells Fargo & Company lowered their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. Piper Sandler reduced their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective for the company. Finally, Morgan Stanley decreased their price target on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $638.58.

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Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm'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 sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the business's 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 sale, the insider now directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock worth $22,794,835 over the last ninety days. Company insiders own 0.62% of the company's stock.

Synopsys Stock Down 1.4 %

Shares of SNPS stock traded down $5.41 during trading hours on Monday, hitting $382.72. 1,523,670 shares of the company's stock were exchanged, compared to its average volume of 1,067,326. The firm has a market cap of $59.18 billion, a P/E ratio of 26.16, a P/E/G ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a fifty-two week low of $358.15 and a fifty-two week high of $624.80. The firm has a 50 day moving average of $473.83 and a two-hundred day moving average of $503.14.

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.