Corient Private Wealth LLC Reduces Position in Synopsys, Inc. (NASDAQ:SNPS)

Corient Private Wealth LLC trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 72.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,519 shares of the semiconductor company’s stock after selling 77,492 shares during the quarter. Corient Private Wealth LLC’s holdings in Synopsys were worth $14,328,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of SNPS. GSA Capital Partners LLP bought a new stake in Synopsys in the third quarter valued at about $467,000. Pathstone Holdings LLC increased its holdings in Synopsys by 6.9% in the third quarter. Pathstone Holdings LLC now owns 19,078 shares of the semiconductor company’s stock valued at $9,661,000 after buying an additional 1,225 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in Synopsys by 44.3% in the third quarter. Meeder Asset Management Inc. now owns 114 shares of the semiconductor company’s stock valued at $58,000 after buying an additional 35 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Synopsys by 6.4% in the third quarter. PNC Financial Services Group Inc. now owns 24,715 shares of the semiconductor company’s stock valued at $12,515,000 after buying an additional 1,494 shares during the last quarter. Finally, Premier Fund Managers Ltd increased its holdings in Synopsys by 24.0% in the third quarter. Premier Fund Managers Ltd now owns 16,317 shares of the semiconductor company’s stock valued at $8,377,000 after buying an additional 3,162 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Up 0.5 %

SNPS stock opened at $450.28 on Thursday. The company has a market capitalization of $69.62 billion, a P/E ratio of 31.01, a PEG ratio of 3.23 and a beta of 1.16. The company has a 50-day simple moving average of $493.11 and a 200 day simple moving average of $506.95. Synopsys, Inc. has a fifty-two week low of $425.73 and a fifty-two week high of $624.80.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SNPS. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Piper Sandler lowered their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Robert W. Baird lowered their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Finally, Wells Fargo & Company lowered their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated 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 directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction 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 $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. 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. 0.62% of the stock is currently owned by company insiders.

Synopsys Company 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.