Stifel Financial Corp Reduces Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Stifel Financial Corp decreased its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 37.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,702 shares of the semiconductor company's stock after selling 11,176 shares during the period. Stifel Financial Corp's holdings in Synopsys were worth $9,077,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Synopsys by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock valued at $7,029,360,000 after buying an additional 120,575 shares during the period. Capital World Investors lifted its holdings in shares of Synopsys by 1.6% in the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock worth $3,533,526,000 after acquiring an additional 114,893 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Synopsys by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock worth $1,625,230,000 after purchasing an additional 75,298 shares during the period. Pictet Asset Management Holding SA raised its position in Synopsys by 3.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,758,759 shares of the semiconductor company's stock valued at $853,631,000 after purchasing an additional 60,121 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Synopsys by 5.2% during the fourth quarter. Invesco Ltd. now owns 1,381,496 shares of the semiconductor company's stock worth $670,523,000 after buying an additional 68,766 shares during the period. Hedge funds and other institutional investors own 85.47% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. KeyCorp dropped their price objective on Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Bank of America dropped their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Mizuho dropped their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Piper Sandler dropped their price objective on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Finally, Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $618.31.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.

Synopsys Stock Up 1.8 %

SNPS opened at $446.62 on Monday. The business has a 50 day moving average price of $436.66 and a two-hundred day moving average price of $491.94. The company has a market cap of $69.06 billion, a PE ratio of 30.76, a P/E/G ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week 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.

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