Tocqueville Asset Management L.P. Sells 11,125 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Tocqueville Asset Management L.P. lessened its position in Synopsys, Inc. (NASDAQ:SNPS) by 93.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 787 shares of the semiconductor company’s stock after selling 11,125 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Synopsys were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Kieckhefer Group LLC bought a new position in Synopsys in the fourth quarter valued at $27,000. Whipplewood Advisors LLC bought a new position in Synopsys in the fourth quarter valued at $33,000. Sierra Ocean LLC bought a new position in Synopsys in the fourth quarter valued at $39,000. Newbridge Financial Services Group Inc. bought a new position in Synopsys in the fourth quarter valued at $51,000. Finally, Versant Capital Management Inc increased its stake in Synopsys by 109.3% in the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 59 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SNPS shares. Wells Fargo & Company reduced their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Piper Sandler dropped their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Finally, Robert W. Baird dropped their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the sale, the chief executive officer now owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock valued at $22,794,835 over the last 90 days. Corporate insiders own 0.62% of the company’s stock.

Synopsys Stock Up 0.5 %

Shares of SNPS opened at $450.28 on Thursday. The company has a market capitalization of $69.62 billion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The firm has a 50 day moving average of $493.11 and a 200 day moving average of $506.95. Synopsys, Inc. has a twelve month low of $425.73 and a twelve month high of $624.80.

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.