GAM Holding AG Sells 2,260 Shares of Synopsys, Inc. (NASDAQ:SNPS)

GAM Holding AG trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 43.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,919 shares of the semiconductor company's stock after selling 2,260 shares during the period. GAM Holding AG's holdings in Synopsys were worth $1,417,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SNPS. Kieckhefer Group LLC bought a new stake in shares of Synopsys in the 4th quarter valued at about $27,000. Hazlett Burt & Watson Inc. raised its holdings in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 20 shares during the period. Sierra Ocean LLC bought a new stake in shares of Synopsys in the 4th quarter valued at about $39,000. Princeton Global Asset Management LLC bought a new stake in shares of Synopsys in the 3rd quarter valued at about $44,000. Finally, nVerses Capital LLC bought a new stake in shares of Synopsys in the 3rd quarter valued at about $51,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In other 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 transaction, the executive now directly owns 1,460 shares of the company's stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Robert W. Baird dropped their target price on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. Redburn Atlantic started coverage on shares of Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 price target on the stock. Piper Sandler lowered their price target on shares of Synopsys from $670.00 to $655.00 and set an "overweight" rating on the stock in a report on Friday, December 6th. Finally, Loop Capital started coverage on shares of Synopsys in a report on Monday, November 11th. They issued a "buy" rating and a $675.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Synopsys presently has an average rating of "Moderate Buy" and a consensus price target of $641.82.

Synopsys Stock Down 3.9 %

Shares of SNPS traded down $19.13 during mid-day trading on Friday, hitting $474.84. 1,370,372 shares of the company's stock were exchanged, compared to its average volume of 1,066,749. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The stock's 50-day simple moving average is $510.88 and its 200-day simple moving average is $517.44. The firm has a market cap of $73.40 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 3.28 and a beta of 1.12.

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.