Synopsys, Inc. (NASDAQ:SNPS) Position Reduced by TIAA Trust National Association

TIAA Trust National Association reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,330 shares of the semiconductor company’s stock after selling 1,103 shares during the period. TIAA Trust National Association’s holdings in Synopsys were worth $7,926,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Peloton Wealth Strategists lifted its position in Synopsys by 221.2% in the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after buying an additional 1,984 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Synopsys by 15.9% during the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after acquiring an additional 143,284 shares in the last quarter. James Hambro & Partners LLP boosted its position in Synopsys by 30.9% during the fourth 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. Orion Portfolio Solutions LLC grew its stake in Synopsys by 53.2% in the third quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company’s stock valued at $13,304,000 after purchasing an additional 9,124 shares in the last quarter. Finally, Synovus Financial Corp increased its position in Synopsys by 199.2% in the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock worth $7,627,000 after purchasing an additional 10,028 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Down 0.1 %

Shares of SNPS opened at $457.23 on Wednesday. The stock’s 50-day moving average price is $489.94 and its 200 day moving average price is $506.26. The firm has a market capitalization of $70.70 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12-month low of $425.73 and a 12-month high of $624.80.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Morgan Stanley reduced their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Piper Sandler cut their target price 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 decreased their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’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 value of $10,544,236.38. Following the completion of the sale, 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. Over the last ninety days, insiders have sold 47,909 shares of company stock worth $22,794,835. Company insiders own 0.62% of the company’s stock.

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.