Bank Julius Baer & Co. Ltd Zurich Has $15.87 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Bank Julius Baer & Co. Ltd Zurich lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 44.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 31,351 shares of the semiconductor company’s stock after selling 25,261 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Synopsys were worth $15,872,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. State Street Corp lifted its stake in shares of Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after buying an additional 119,057 shares during the last quarter. Geode Capital Management LLC increased its position in Synopsys by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after acquiring an additional 61,799 shares during the period. Edgewood Management LLC increased its holdings in Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after buying an additional 487,025 shares during the period. Parnassus Investments LLC bought a new position in Synopsys in the 3rd quarter valued at about $633,469,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Synopsys by 7.7% in the 3rd quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company’s stock valued at $577,289,000 after purchasing an additional 81,198 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Up 1.2 %

NASDAQ:SNPS opened at $450.88 on Friday. The company has a fifty day moving average of $501.21 and a 200-day moving average of $512.03. The firm has a market capitalization of $69.72 billion, a P/E ratio of 31.05, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a twelve month low of $429.77 and a twelve month high of $624.80.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SNPS. Wells Fargo & Company reduced their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Morgan Stanley cut their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Robert W. Baird cut their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Finally, Piper Sandler cut their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

About Synopsys

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.