Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 62,891 shares of the semiconductor company’s stock after selling 1,715 shares during the quarter. Synopsys comprises about 1.6% of AMI Asset Management Corp’s investment portfolio, making the stock its 29th largest position. AMI Asset Management Corp’s holdings in Synopsys were worth $30,525,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Pacifica Partners Inc. acquired a new position in shares of Synopsys in the 3rd quarter valued at about $25,000. Kieckhefer Group LLC acquired a new position in Synopsys in the fourth quarter valued at approximately $27,000. Tsfg LLC grew its holdings in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new position in shares of Synopsys during the third quarter worth about $44,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 2.1 %

Shares of Synopsys stock opened at $526.70 on Tuesday. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The stock has a market cap of $81.42 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 3.45 and a beta of 1.12. The company’s 50-day moving average price is $519.43 and its two-hundred day moving average price is $525.54.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Wednesday, December 4th. Robert W. Baird reduced their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Piper Sandler lowered their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Loop Capital started coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Finally, Berenberg Bank initiated coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and an average target price of $641.82.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $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 is available at this link. Insiders own 0.66% of the company’s stock.

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.