Blair William & Co. IL Lowers Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Blair William & Co. IL trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 31.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 33,432 shares of the semiconductor company's stock after selling 15,558 shares during the period. Blair William & Co. IL's holdings in Synopsys were worth $16,227,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SNPS. Vanguard Group Inc. raised its holdings in Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock worth $7,029,360,000 after buying an additional 120,575 shares during the last quarter. State Street Corp lifted its position in Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company's stock valued at $3,518,637,000 after acquiring an additional 119,057 shares in the last quarter. Geode Capital Management LLC lifted its position in 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 acquiring an additional 61,799 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Synopsys by 7.7% during the 3rd quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company's stock valued at $577,289,000 after purchasing an additional 81,198 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Synopsys by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,086,249 shares of the semiconductor company's stock worth $527,222,000 after purchasing an additional 3,533 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

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Synopsys Trading Up 1.5 %

NASDAQ SNPS traded up $6.53 on Tuesday, hitting $435.38. 700,270 shares of the company traded hands, compared to its average volume of 1,048,412. The business's 50 day moving average price is $483.67 and its 200-day moving average price is $505.29. The company has a market capitalization of $67.32 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52-week low of $423.08 and a 52-week high of $624.80.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley dropped their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Piper Sandler dropped their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Redburn Atlantic started coverage on shares of Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 price objective for the company. 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 research report on Thursday, February 27th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Synopsys presently has an average rating of "Moderate Buy" and a consensus price target of $638.58.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares of the company's stock, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Geus Aart De sold 15,705 shares of Synopsys 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 transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock valued at $22,794,835 in the last ninety days. Corporate insiders own 0.62% of the company's stock.

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.