Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Zions Bancorporation N.A.

Zions Bancorporation N.A. lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.1% in the 4th quarter, Holdings Channel reports. The fund owned 469 shares of the semiconductor company’s stock after buying an additional 31 shares during the period. Zions Bancorporation N.A.’s holdings in Synopsys were worth $228,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SNPS. Raymond James Financial Inc. bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $199,065,000. Proficio Capital Partners LLC grew its position in Synopsys by 71,578.5% in the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after buying an additional 385,808 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after acquiring an additional 257,526 shares during the period. Alecta Tjanstepension Omsesidigt bought a new position in shares of Synopsys in the fourth quarter valued at approximately $104,741,000. Finally, American Century Companies Inc. boosted its stake in Synopsys by 38.7% during the 4th quarter. American Century Companies Inc. now owns 571,474 shares of the semiconductor company’s stock valued at $277,371,000 after purchasing an additional 159,344 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Transactions at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction that occurred on 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 approximately $51,850,925.82. This trade represents a 11.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 sale, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Robert W. Baird reduced their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley dropped their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Trading Down 1.6 %

Shares of NASDAQ:SNPS opened at $449.90 on Thursday. The stock has a market capitalization of $69.56 billion, a PE ratio of 30.98, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The firm has a fifty day moving average price of $488.79 and a 200 day moving average price of $505.87.

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.