Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Tiemann Investment Advisors LLC

Tiemann Investment Advisors LLC cut its stake in Synopsys, Inc. (NASDAQ:SNPS) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 880 shares of the semiconductor company’s stock after selling 105 shares during the period. Tiemann Investment Advisors LLC’s holdings in Synopsys were worth $427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Impax Asset Management Group plc increased its stake in shares of Synopsys by 120.2% in the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after acquiring an additional 267,836 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Synopsys by 115.5% in the third quarter. Concurrent Investment Advisors LLC now owns 929 shares of the semiconductor company’s stock valued at $471,000 after purchasing an additional 498 shares during the period. CWA Asset Management Group LLC purchased a new position in Synopsys during the third quarter worth about $1,138,000. Verdence Capital Advisors LLC raised its stake in Synopsys by 32.5% during the third quarter. Verdence Capital Advisors LLC now owns 567 shares of the semiconductor company’s stock worth $287,000 after purchasing an additional 139 shares during the period. Finally, Assetmark Inc. grew its stake in shares of Synopsys by 4.3% in the 3rd quarter. Assetmark Inc. now owns 15,903 shares of the semiconductor company’s stock valued at $8,053,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on SNPS shares. Piper Sandler reduced their price target 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. Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Robert W. Baird lowered their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Morgan Stanley reduced their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Stock Performance

Shares of SNPS stock opened at $450.88 on Monday. Synopsys, Inc. has a 1 year low of $429.77 and a 1 year high of $624.80. The firm has a market cap of $69.72 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 3.23 and a beta of 1.16. The stock’s 50-day moving average is $501.21 and its two-hundred day moving average is $511.66.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction 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. This represents a 93.45 % 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.