Blair William & Co. IL Sells 15,558 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Blair William & Co. IL trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 31.8% during the fourth quarter, Holdings Channel reports. The fund owned 33,432 shares of the semiconductor company’s stock after selling 15,558 shares during the quarter. Blair William & Co. IL’s holdings in Synopsys were worth $16,227,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. D.A. Davidson & CO. lifted its stake in shares of Synopsys by 13.9% in the third quarter. D.A. Davidson & CO. now owns 4,118 shares of the semiconductor company’s stock worth $2,085,000 after buying an additional 502 shares during the last quarter. Townsquare Capital LLC grew its stake in Synopsys by 9.8% in the 3rd quarter. Townsquare Capital LLC now owns 5,700 shares of the semiconductor company’s stock valued at $2,886,000 after buying an additional 508 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Synopsys by 150.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 35,434 shares of the semiconductor company’s stock worth $17,943,000 after acquiring an additional 21,304 shares during the period. CreativeOne Wealth LLC lifted its position in Synopsys by 315.1% during the 3rd quarter. CreativeOne Wealth LLC now owns 2,250 shares of the semiconductor company’s stock worth $1,139,000 after acquiring an additional 1,708 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in Synopsys during the third quarter valued at about $11,441,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Down 1.9 %

NASDAQ:SNPS opened at $437.95 on Friday. The firm has a market capitalization of $67.72 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12-month low of $425.73 and a 12-month high of $624.80. The firm has a 50-day moving average price of $485.62 and a 200 day moving average price of $505.27.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Robert W. Baird cut their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Piper Sandler decreased their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were 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 owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,909 shares of company stock valued at $22,794,835. Corporate insiders own 0.62% of the company’s stock.

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.