Thrivent Financial for Lutherans lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 81.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,804 shares of the semiconductor company's stock after selling 30,483 shares during the quarter. Thrivent Financial for Lutherans' holdings in Synopsys were worth $3,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pitti Group Wealth Management LLC purchased a new position in shares of Synopsys in the 4th quarter worth approximately $218,000. Cibc World Markets Corp increased its position in shares of Synopsys by 14.4% during the fourth quarter. Cibc World Markets Corp now owns 27,620 shares of the semiconductor company's stock worth $13,406,000 after purchasing an additional 3,485 shares in the last quarter. GWN Securities Inc. purchased a new stake in shares of Synopsys during the 4th quarter valued at $189,000. Gallacher Capital Management LLC boosted its position in shares of Synopsys by 10.4% in the 4th quarter. Gallacher Capital Management LLC now owns 467 shares of the semiconductor company's stock worth $227,000 after purchasing an additional 44 shares in the last quarter. Finally, Choate Investment Advisors grew its stake in Synopsys by 18.6% during the 4th quarter. Choate Investment Advisors now owns 497 shares of the semiconductor company's stock worth $241,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.
Synopsys Stock Performance
Shares of Synopsys stock traded down $8.28 on Friday, hitting $437.95. The company's stock had a trading volume of 941,520 shares, compared to its average volume of 1,048,262. The company has a market capitalization of $67.72 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The firm has a fifty day moving average price of $485.62 and a 200-day moving average price of $505.72.
Insider Buying and Selling at Synopsys
In related news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business's 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 sale, the chief executive officer now 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. Over the last three months, insiders have sold 47,909 shares of company stock valued at $22,794,835. Company insiders own 0.62% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Piper Sandler lowered their price target on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Rosenblatt Securities restated a "buy" rating and set a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Morgan Stanley decreased their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They issued a "buy" rating and a $600.00 target price on the stock. Finally, Wells Fargo & Company dropped their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Synopsys presently has an average rating of "Moderate Buy" and a consensus target price of $638.58.
Check Out Our Latest Report on SNPS
About Synopsys
(
Free Report)
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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