Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Reduced by Davis Rea LTD.

Davis Rea LTD. trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 24.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,478 shares of the semiconductor company’s stock after selling 9,114 shares during the period. Synopsys accounts for approximately 7.0% of Davis Rea LTD.’s portfolio, making the stock its 4th largest holding. Davis Rea LTD.’s holdings in Synopsys were worth $13,822,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SNPS. Peloton Wealth Strategists lifted its stake in shares of Synopsys by 221.2% during the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after buying an additional 1,984 shares in the last quarter. Swiss National Bank raised its holdings in Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after acquiring an additional 3,200 shares during the period. Parnassus Investments LLC purchased a new stake in shares of Synopsys during the third quarter worth $633,469,000. Harvest Portfolios Group Inc. boosted its holdings in shares of Synopsys by 3.7% in the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after acquiring an additional 1,496 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of Synopsys by 15.9% in the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after purchasing an additional 143,284 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SNPS has been the topic of a number of recent research reports. Morgan Stanley dropped their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday. Piper Sandler decreased their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Loop Capital began coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred 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 sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.62% of the stock is owned by insiders.

Synopsys Trading Down 3.3 %

SNPS opened at $454.71 on Friday. The stock has a market capitalization of $70.29 billion, a P/E ratio of 31.32, a PEG ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a 12-month low of $454.05 and a 12-month high of $624.80. The stock has a 50-day moving average price of $506.84 and a 200-day moving average price of $516.13.

Synopsys 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.