Parallel Advisors LLC Lowers Position in Synopsys, Inc. (NASDAQ:SNPS)

Parallel Advisors LLC lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,123 shares of the semiconductor company’s stock after selling 243 shares during the period. Parallel Advisors LLC’s holdings in Synopsys were worth $3,458,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new position in Synopsys during the third quarter worth approximately $467,000. OneDigital Investment Advisors LLC boosted its stake in shares of Synopsys by 28.7% in the third quarter. OneDigital Investment Advisors LLC now owns 2,581 shares of the semiconductor company’s stock valued at $1,307,000 after purchasing an additional 575 shares during the period. Empowered Funds LLC boosted its stake in shares of Synopsys by 13.2% in the third quarter. Empowered Funds LLC now owns 7,254 shares of the semiconductor company’s stock valued at $3,673,000 after purchasing an additional 844 shares during the period. Swiss National Bank boosted its stake in Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Synopsys during the 3rd quarter valued at $1,788,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 1.6 %

Synopsys stock opened at $453.51 on Tuesday. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The company has a market cap of $70.12 billion, a PE ratio of 31.23, a PEG ratio of 3.23 and a beta of 1.16. The company’s 50-day moving average is $494.94 and its two-hundred day moving average is $507.85.

Insider Activity

In other news, insider Geus Aart De sold 15,705 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction on 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 directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock valued at $22,794,835 in the last ninety days. 0.62% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SNPS shares. Wells Fargo & Company dropped their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Morgan Stanley reduced their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Finally, Piper Sandler reduced their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $638.58.

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.