William Blair Investment Management LLC Sells 15,940 Shares of Synopsys, Inc. (NASDAQ:SNPS)

William Blair Investment Management LLC trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 26.3% in the 4th quarter, HoldingsChannel reports. The fund 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 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SNPS. Kieckhefer Group LLC bought a new position in shares of Synopsys in the 4th quarter worth $27,000. Whipplewood Advisors LLC purchased a new position in Synopsys during the 4th quarter worth $33,000. Sierra Ocean LLC purchased a new position in Synopsys during the 4th quarter worth $39,000. Newbridge Financial Services Group Inc. purchased a new position in Synopsys during the 4th quarter worth $51,000. Finally, Versant Capital Management Inc grew its stake in Synopsys by 109.3% during the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after buying an additional 59 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SNPS. Needham & Company LLC restated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Piper Sandler dropped 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 dropped their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Robert W. Baird dropped their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, Morgan Stanley dropped their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Transactions at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $506.01, for a total value 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 $738,774.60. The trade was a 93.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock worth $22,794,835 over the last quarter. 0.62% of the stock is currently owned by insiders.

Synopsys Stock Down 1.2 %

Shares of SNPS opened at $447.99 on Wednesday. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80. The company has a market capitalization of $69.27 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 3.23 and a beta of 1.16. The stock’s 50-day moving average price is $494.15 and its 200-day moving average price is $507.35.

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.