Hancock Whitney Corp Cuts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Hancock Whitney Corp lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,394 shares of the semiconductor company’s stock after selling 286 shares during the quarter. Hancock Whitney Corp’s holdings in Synopsys were worth $4,757,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Ascent Group LLC lifted its position in Synopsys by 1.7% in the first quarter. Ascent Group LLC now owns 1,978 shares of the semiconductor company’s stock valued at $1,130,000 after purchasing an additional 34 shares during the last quarter. Silvercrest Asset Management Group LLC raised its stake in shares of Synopsys by 13.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 4,080 shares of the semiconductor company’s stock valued at $2,332,000 after acquiring an additional 488 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Synopsys by 39.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,599 shares of the semiconductor company’s stock worth $914,000 after purchasing an additional 453 shares during the period. California State Teachers Retirement System grew its stake in shares of Synopsys by 0.3% in the first quarter. California State Teachers Retirement System now owns 243,751 shares of the semiconductor company’s stock worth $139,304,000 after purchasing an additional 721 shares during the last quarter. Finally, Motley Fool Asset Management LLC increased its holdings in Synopsys by 14.4% during the 1st quarter. Motley Fool Asset Management LLC now owns 5,261 shares of the semiconductor company’s stock valued at $3,007,000 after purchasing an additional 663 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Price Performance

NASDAQ:SNPS opened at $567.10 on Monday. The firm has a market capitalization of $87.11 billion, a P/E ratio of 58.83, a PEG ratio of 3.45 and a beta of 1.08. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The company’s 50-day simple moving average is $520.78 and its 200 day simple moving average is $545.63.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SNPS shares. Berenberg Bank started coverage on Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Piper Sandler decreased their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Mizuho began coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Finally, Robert W. Baird increased their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $644.36.

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.