Advisors Asset Management Inc. Sells 723 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Advisors Asset Management Inc. decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 9.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,289 shares of the semiconductor company’s stock after selling 723 shares during the quarter. Advisors Asset Management Inc.’s holdings in Synopsys were worth $3,538,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of SNPS. Kieckhefer Group LLC acquired a new position in Synopsys during the fourth quarter worth $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Synopsys in the 4th quarter worth about $33,000. Sierra Ocean LLC acquired a new position in Synopsys during the 4th quarter valued at about $39,000. Newbridge Financial Services Group Inc. bought a new stake in Synopsys during the 4th quarter worth approximately $51,000. Finally, Versant Capital Management Inc raised its stake 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 during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Trading Down 0.1 %

Synopsys stock opened at $449.99 on Friday. The business’s 50 day simple moving average is $492.07 and its 200 day simple moving average is $506.55. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80. The company has a market cap of $69.58 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 3.23 and a beta of 1.16.

Wall Street Analyst Weigh In

SNPS has been the subject of several recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Wells Fargo & Company lowered their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Morgan Stanley decreased their price objective 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. Finally, Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $638.58.

Insider Activity

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the stock in a transaction 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 sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock valued at $22,794,835 in the last 90 days. Insiders own 0.62% 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.