Moran Wealth Management LLC Sells 18,904 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Moran Wealth Management LLC lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 88.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,538 shares of the semiconductor company’s stock after selling 18,904 shares during the quarter. Moran Wealth Management LLC’s holdings in Synopsys were worth $1,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Peloton Wealth Strategists boosted its holdings in Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after acquiring an additional 1,984 shares in the last quarter. Swiss National Bank increased its holdings in shares of Synopsys by 0.7% during the third 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 in the last quarter. Parnassus Investments LLC purchased a new position in shares of Synopsys in the 3rd quarter worth about $633,469,000. Nordea Investment Management AB boosted its stake in Synopsys by 15.9% in the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after purchasing an additional 143,284 shares in the last quarter. Finally, James Hambro & Partners LLP grew its position in Synopsys by 30.9% during the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock valued at $97,725,000 after purchasing an additional 47,527 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the business’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 sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,909 shares of company stock worth $22,794,835. Corporate insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS opened at $430.68 on Wednesday. The company has a 50 day moving average price of $498.98 and a 200-day moving average price of $510.06. Synopsys, Inc. has a fifty-two week low of $427.30 and a fifty-two week high of $624.80. The stock has a market capitalization of $66.59 billion, a PE ratio of 29.66, a PEG ratio of 3.23 and a beta of 1.16.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SNPS shares. Morgan Stanley decreased their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Needham & Company LLC restated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Piper Sandler lowered their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Robert W. Baird reduced their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Finally, Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.