Savant Capital LLC Has $2.24 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Savant Capital LLC lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.0% in the fourth quarter, HoldingsChannel reports. The firm owned 4,606 shares of the semiconductor company’s stock after selling 95 shares during the period. Savant Capital LLC’s holdings in Synopsys were worth $2,236,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Parnassus Investments LLC bought a new stake in Synopsys during the 3rd quarter worth approximately $633,469,000. Edgewood Management LLC boosted its stake in Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after purchasing an additional 487,025 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after purchasing an additional 335,993 shares during the last quarter. Impax Asset Management Group plc increased its stake in shares of Synopsys by 120.2% in the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after buying an additional 267,836 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Synopsys by 32.5% in the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after buying an additional 257,526 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SNPS has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Thursday, December 5th. Mizuho started coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target for the company. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Finally, Piper Sandler lowered their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Stock Down 3.7 %

SNPS stock opened at $509.71 on Thursday. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The company has a market cap of $78.79 billion, a P/E ratio of 35.10, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12. The business’s fifty day moving average is $511.98 and its 200-day moving average is $518.22.

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.