Artisan Partners Limited Partnership Has $200.60 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Artisan Partners Limited Partnership trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 23.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 413,291 shares of the semiconductor company's stock after selling 125,268 shares during the period. Artisan Partners Limited Partnership owned 0.27% of Synopsys worth $200,595,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC increased its position in Synopsys by 6.1% in the 3rd quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company's stock valued at $202,000 after acquiring an additional 23 shares during the period. Brown Brothers Harriman & Co. increased its holdings in shares of Synopsys by 221.7% during the third quarter. Brown Brothers Harriman & Co. now owns 1,808 shares of the semiconductor company's stock valued at $916,000 after purchasing an additional 1,246 shares during the period. Bank of Montreal Can raised its stake in shares of Synopsys by 3.2% during the third quarter. Bank of Montreal Can now owns 230,983 shares of the semiconductor company's stock valued at $118,566,000 after purchasing an additional 7,137 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in Synopsys by 13.9% in the third quarter. D.A. Davidson & CO. now owns 4,118 shares of the semiconductor company's stock worth $2,085,000 after purchasing an additional 502 shares during the period. Finally, Quantbot Technologies LP bought a new position in Synopsys in the 3rd quarter valued at about $2,562,000. Institutional investors own 85.47% of the company's stock.

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Synopsys Stock Down 1.9 %

Shares of SNPS stock traded down $8.28 during trading hours on Friday, reaching $437.95. 941,520 shares of the stock traded hands, compared to its average volume of 1,048,262. The business has a fifty day moving average price of $485.62 and a 200 day moving average price of $505.55. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80. The firm has a market capitalization of $67.72 billion, a PE ratio of 30.16, a PEG ratio of 3.23 and a beta of 1.16.

Analysts Set New Price Targets

SNPS has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities reiterated a "buy" rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Finally, Robert W. Baird dropped their price target on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Synopsys currently has an average rating of "Moderate Buy" and a consensus price target of $638.58.

Insider Buying and Selling at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81 % 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 three months. 0.62% of the stock is currently owned by company insiders.

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.