Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by GAM Holding AG

GAM Holding AG lowered its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 43.6% during the 4th quarter, according to its most recent 13F 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 reporting period.

Several other hedge funds also recently made changes to their positions in the business. Hazlett Burt & Watson Inc. increased its position in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Caprock Group LLC increased its position in shares of Synopsys by 0.5% in the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after acquiring an additional 20 shares in the last quarter. Compagnie Lombard Odier SCmA increased its position in shares of Synopsys by 1.1% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after acquiring an additional 20 shares in the last quarter. Aptus Capital Advisors LLC increased its position in shares of Synopsys by 1.5% in the third quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock worth $733,000 after acquiring an additional 22 shares in the last quarter. Finally, Resurgent Financial Advisors LLC increased its position in shares of Synopsys by 2.8% in the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock worth $410,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Up 0.5 %

NASDAQ SNPS opened at $525.00 on Wednesday. The stock has a market capitalization of $81.15 billion, a PE ratio of 36.16, a price-to-earnings-growth ratio of 3.42 and a beta of 1.12. The company has a 50 day moving average price of $511.06 and a two-hundred day moving average price of $517.59. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Piper Sandler dropped their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $641.82.

Insider Buying and Selling at Synopsys

In other Synopsys 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 completion of the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

About Synopsys

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.