Synopsys, Inc. (NASDAQ:SNPS) Stock Position Lessened by Western Financial Corp CA

Western Financial Corp CA reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 56.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,495 shares of the semiconductor company’s stock after selling 1,963 shares during the quarter. Western Financial Corp CA’s holdings in Synopsys were worth $726,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Davidson Capital Management Inc. raised its position in shares of Synopsys by 33,828.6% during the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after buying an additional 4,736 shares in the last quarter. Peloton Wealth Strategists raised its holdings in Synopsys by 221.2% during the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after purchasing an additional 1,984 shares in the last quarter. Swiss National Bank raised its holdings in Synopsys by 0.7% during the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after purchasing an additional 3,200 shares in the last quarter. Parnassus Investments LLC bought a new position in Synopsys during the 3rd quarter valued at $633,469,000. Finally, Harvest Portfolios Group Inc. boosted its stake in Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after purchasing an additional 1,496 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SNPS shares. Berenberg Bank assumed coverage on Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Piper Sandler reduced their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Loop Capital assumed coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Wells Fargo & Company dropped their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, 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. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Stock Performance

SNPS stock opened at $525.48 on Friday. The firm has a 50 day simple moving average of $516.26 and a 200 day simple moving average of $520.95. 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 $81.23 billion, a P/E ratio of 36.19, a P/E/G ratio of 3.36 and a beta of 1.12.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares in the company, 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 SEC, which is available through the SEC website. 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.