Synopsys, Inc. (NASDAQ:SNPS) Holdings Cut by TIAA Trust National Association

TIAA Trust National Association cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,330 shares of the semiconductor company's stock after selling 1,103 shares during the quarter. TIAA Trust National Association's holdings in Synopsys were worth $7,926,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SNPS. Kieckhefer Group LLC bought a new position in Synopsys in the 4th quarter worth about $27,000. Whipplewood Advisors LLC acquired a new stake in Synopsys in the 4th quarter valued at approximately $33,000. Sierra Ocean LLC bought a new stake in Synopsys during the 4th quarter valued at $39,000. Newbridge Financial Services Group Inc. acquired a new position in Synopsys during the 4th quarter worth $51,000. Finally, Versant Capital Management Inc boosted its position in Synopsys by 109.3% during the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock worth $55,000 after acquiring an additional 59 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred 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 transaction, the executive now directly owns 1,460 shares of the company's stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Geus Aart De sold 15,705 shares of the company'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 transaction 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 trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is owned by corporate insiders.

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Synopsys Trading Down 1.9 %

Shares of Synopsys stock traded down $8.28 on Friday, reaching $437.95. 941,520 shares of the company were exchanged, compared to its average volume of 1,048,262. Synopsys, Inc. has a fifty-two week low of $425.73 and a fifty-two week high of $624.80. The firm 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. The stock has a fifty day moving average price of $485.62 and a 200-day moving average price of $505.55.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SNPS shares. Rosenblatt Securities restated a "buy" rating and set a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. 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 research report on Thursday, February 27th. Wells Fargo & Company decreased their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Finally, Robert W. Baird decreased their price target on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a research note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.