Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 23.3% during the fourth quarter, HoldingsChannel reports. The firm owned 413,291 shares of the semiconductor company’s stock after selling 125,268 shares during the period. Artisan Partners Limited Partnership’s holdings in Synopsys were worth $200,595,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SNPS. Kieckhefer Group LLC purchased a new position in shares of Synopsys during the fourth quarter valued at $27,000. Whipplewood Advisors LLC acquired a new stake in Synopsys during the 4th quarter worth about $33,000. Sierra Ocean LLC purchased a new position in Synopsys during the 4th quarter valued at about $39,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Synopsys in the 4th quarter valued at about $51,000. Finally, Versant Capital Management Inc lifted its position in shares of Synopsys by 109.3% in the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 59 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler reduced their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Robert W. Baird reduced their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Finally, Redburn Atlantic started coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 sale, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock valued at $22,794,835 in the last quarter. Corporate insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

NASDAQ SNPS opened at $449.90 on Thursday. Synopsys, Inc. has a twelve month low of $425.73 and a twelve month high of $624.80. The stock has a market cap of $69.56 billion, a PE ratio of 30.98, a PEG ratio of 3.23 and a beta of 1.16. The firm has a 50-day simple moving average of $488.79 and a 200 day simple moving average 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.