Synopsys, Inc. (NASDAQ:SNPS) Position Lowered by William Blair Investment Management LLC

William Blair Investment Management LLC decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 26.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,742 shares of the semiconductor company's stock after selling 15,940 shares during the quarter. William Blair Investment Management LLC's holdings in Synopsys were worth $21,716,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SNPS. Parnassus Investments LLC purchased a new stake in shares of Synopsys during the 3rd quarter worth approximately $633,469,000. Edgewood Management LLC lifted its stake in Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company's stock valued at $1,554,540,000 after buying an additional 487,025 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Synopsys in the 4th quarter valued at approximately $199,065,000. Proficio Capital Partners LLC lifted its stake in Synopsys by 71,578.5% in the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company's stock valued at $187,517,000 after buying an additional 385,808 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company's stock valued at $531,056,000 after buying an additional 257,526 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Price Performance

NASDAQ SNPS traded down $1.39 during trading hours on Friday, hitting $448.60. The company had a trading volume of 3,362,089 shares, compared to its average volume of 1,021,710. Synopsys, Inc. has a fifty-two week low of $425.73 and a fifty-two week high of $624.80. The company has a market capitalization of $69.36 billion, a price-to-earnings ratio of 30.90, a P/E/G ratio of 3.23 and a beta of 1.16. The firm's 50 day moving average is $491.19 and its 200 day moving average is $506.06.

Remove Ads

Insider Activity at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. This represents a 11.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the company's stock in a transaction dated 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 transaction, the executive now directly owns 1,460 shares of the company's stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 47,909 shares of company stock worth $22,794,835. Corporate insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

SNPS has been the topic of a number of recent research reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 target price on the stock. Piper Sandler reduced their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company cut their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Finally, Robert W. Baird cut their price target on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Synopsys presently has a consensus rating of "Moderate Buy" and a consensus price target of $638.58.

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.