Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 5.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,741 shares of the semiconductor company’s stock after selling 94 shares during the period. Farther Finance Advisors LLC’s holdings in Synopsys were worth $845,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Synopsys by 1.7% in the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after acquiring an additional 119,057 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Synopsys by 1.9% in the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after acquiring an additional 61,799 shares in the last quarter. Edgewood Management LLC grew its stake in shares of Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares in the last quarter. Parnassus Investments LLC acquired a new position in shares of Synopsys in the third quarter worth $633,469,000. Finally, Janus Henderson Group PLC grew its stake in shares of Synopsys by 7.7% in the third quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company’s stock worth $577,289,000 after acquiring an additional 81,198 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction dated 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 sale, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were 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 $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. Insiders sold a total of 47,909 shares of company stock valued at $22,794,835 over the last ninety days. Insiders own 0.62% of the company’s stock.

Synopsys Price Performance

Shares of SNPS opened at $446.23 on Friday. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80. The stock has a market cap of $69.00 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The firm has a fifty day moving average price of $495.89 and a 200 day moving average price of $508.41.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Wells Fargo & Company dropped their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Piper Sandler dropped their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

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.