Moran Wealth Management LLC decreased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 88.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,538 shares of the semiconductor company's stock after selling 18,904 shares during the period. Moran Wealth Management LLC's holdings in Synopsys were worth $1,232,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Impax Asset Management Group plc grew its holdings in shares of Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company's stock worth $248,497,000 after purchasing an additional 267,836 shares during the period. Verdence Capital Advisors LLC raised its stake in shares of Synopsys by 32.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 567 shares of the semiconductor company's stock valued at $287,000 after acquiring an additional 139 shares during the period. Assetmark Inc. lifted its holdings in shares of Synopsys by 4.3% during the 3rd quarter. Assetmark Inc. now owns 15,903 shares of the semiconductor company's stock valued at $8,053,000 after acquiring an additional 650 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in Synopsys by 5.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,089 shares of the semiconductor company's stock worth $4,602,000 after purchasing an additional 464 shares during the period. Finally, Nations Financial Group Inc. IA ADV increased its holdings in Synopsys by 4.3% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 1,121 shares of the semiconductor company's stock valued at $568,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.
Shares of SNPS stock traded up $1.78 on Wednesday, hitting $432.46. 1,899,253 shares of the stock traded hands, compared to its average volume of 1,224,087. The company has a market capitalization of $66.87 billion, a PE ratio of 29.78, a PEG ratio of 3.23 and a beta of 1.16. The company's fifty day moving average is $498.98 and its 200 day moving average is $510.06. Synopsys, Inc. has a 1-year low of $427.30 and a 1-year high of $624.80.
Several brokerages have recently weighed in on SNPS. Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective for the company. Piper Sandler reduced their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Robert W. Baird dropped their price target on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research note on Thursday, December 5th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $638.58.
View Our Latest Report on SNPS
In related news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is currently owned by insiders.
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.
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