Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC lowered its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,628 shares of the semiconductor company's stock after selling 2,189 shares during the quarter. Synopsys makes up about 0.7% of Peregrine Capital Management LLC's portfolio, making the stock its 28th biggest position. Peregrine Capital Management LLC's holdings in Synopsys were worth $22,146,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC grew its stake in Synopsys by 162.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,723 shares of the semiconductor company's stock worth $836,000 after purchasing an additional 1,067 shares in the last quarter. D.A. Davidson & CO. grew its stake in Synopsys by 6.9% in the fourth quarter. D.A. Davidson & CO. now owns 4,404 shares of the semiconductor company's stock worth $2,138,000 after purchasing an additional 286 shares in the last quarter. Truist Financial Corp lifted its holdings in Synopsys by 2.3% during the fourth quarter. Truist Financial Corp now owns 18,766 shares of the semiconductor company's stock worth $9,108,000 after buying an additional 413 shares during the period. CIBC Asset Management Inc lifted its holdings in Synopsys by 7.6% during the fourth quarter. CIBC Asset Management Inc now owns 74,789 shares of the semiconductor company's stock worth $36,300,000 after buying an additional 5,253 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its holdings in Synopsys by 21.1% during the fourth quarter. Catalyst Capital Advisors LLC now owns 1,687 shares of the semiconductor company's stock worth $819,000 after buying an additional 294 shares during the period. Institutional investors own 85.47% of the company's stock.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm's stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.66% of the company's stock.

Synopsys Stock Performance

SNPS stock traded down $19.13 during midday trading on Friday, reaching $474.84. The stock had a trading volume of 1,370,372 shares, compared to its average volume of 1,066,749. The stock has a market cap of $73.40 billion, a PE ratio of 32.70, a P/E/G ratio of 3.28 and a beta of 1.12. The firm has a fifty day simple moving average of $510.88 and a two-hundred day simple moving average of $517.44. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38.

Wall Street Analyst Weigh In

SNPS has been the subject of a number of analyst reports. Redburn Atlantic initiated coverage on Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 target price for the company. Piper Sandler lowered their target price on Synopsys from $670.00 to $655.00 and set an "overweight" rating for the company in a report on Friday, December 6th. Rosenblatt Securities restated a "buy" rating and set a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. Loop Capital initiated coverage on Synopsys in a report on Monday, November 11th. They set a "buy" rating and a $675.00 target price for the company. Finally, Wells Fargo & Company lowered their target price on Synopsys from $570.00 to $540.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Synopsys currently has a consensus rating of "Moderate Buy" and an average target price of $641.82.

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.