Orion Portfolio Solutions LLC Lowers Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Orion Portfolio Solutions LLC reduced its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,217 shares of the semiconductor company's stock after selling 2,055 shares during the period. Orion Portfolio Solutions LLC's holdings in Synopsys were worth $11,754,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SNPS. Peloton Wealth Strategists lifted its holdings in shares of Synopsys by 221.2% in the 3rd 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 last quarter. Nordea Investment Management AB lifted its stake in Synopsys by 15.9% during the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company's stock worth $509,261,000 after purchasing an additional 143,284 shares in the last quarter. James Hambro & Partners LLP boosted its position in shares of Synopsys by 30.9% during the fourth quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company's stock worth $97,725,000 after buying an additional 47,527 shares during the period. Synovus Financial Corp grew its stake in shares of Synopsys by 199.2% in the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock valued at $7,627,000 after buying an additional 10,028 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Synopsys by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company's stock valued at $1,656,005,000 after buying an additional 61,799 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

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Insider Activity at Synopsys

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

Synopsys Stock Up 1.7 %

Synopsys stock traded up $7.27 during mid-day trading on Tuesday, hitting $436.12. The company had a trading volume of 700,270 shares, compared to its average volume of 1,048,607. The stock has a market cap of $67.43 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $423.08 and a 1 year high of $624.80. The business has a fifty day moving average of $483.67 and a 200 day moving average of $505.29.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Morgan Stanley cut their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Needham & Company LLC reiterated a "buy" rating and set a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Rosenblatt Securities reissued a "buy" rating and issued a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Piper Sandler cut their price objective on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Finally, Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 target price for the company. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and a consensus target price of $638.58.

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.