Zurcher Kantonalbank Zurich Cantonalbank Sells 26,911 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 18.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,674 shares of the semiconductor company's stock after selling 26,911 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Synopsys worth $56,144,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Impax Asset Management Group plc increased its stake in shares of Synopsys by 120.2% in the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company's stock valued at $248,497,000 after acquiring an additional 267,836 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in Synopsys by 115.5% in the third quarter. Concurrent Investment Advisors LLC now owns 929 shares of the semiconductor company's stock worth $471,000 after purchasing an additional 498 shares during the period. CWA Asset Management Group LLC bought a new stake in Synopsys in the third quarter valued at $1,138,000. Verdence Capital Advisors LLC increased its stake in Synopsys by 32.5% in the third quarter. Verdence Capital Advisors LLC now owns 567 shares of the semiconductor company's stock valued at $287,000 after purchasing an additional 139 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Synopsys by 4.3% during the third quarter. Assetmark Inc. now owns 15,903 shares of the semiconductor company's stock valued at $8,053,000 after purchasing an additional 650 shares during the period. 85.47% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % 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 90 days. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Piper Sandler reduced their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Morgan Stanley reduced their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Robert W. Baird decreased their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Finally, Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a "buy" rating and a $600.00 price target for the company. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $638.58.

Synopsys Stock Performance

SNPS traded down $21.03 during mid-day trading on Monday, reaching $429.85. 1,711,372 shares of the stock were exchanged, compared to its average volume of 1,200,940. Synopsys, Inc. has a 1 year low of $427.30 and a 1 year high of $624.80. The stock has a market capitalization of $66.46 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The company has a 50 day moving average price of $500.07 and a two-hundred day moving average price of $510.83.

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.