Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Lindbrook Capital LLC

Lindbrook Capital LLC cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,261 shares of the semiconductor company’s stock after selling 53 shares during the quarter. Lindbrook Capital LLC’s holdings in Synopsys were worth $612,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of SNPS. Parnassus Investments LLC acquired a new position in shares of Synopsys during the 3rd quarter valued at $633,469,000. Edgewood Management LLC increased its position in shares of Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after purchasing an additional 487,025 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Synopsys during the 4th quarter valued at $199,065,000. Proficio Capital Partners LLC increased its position in shares of Synopsys by 71,578.5% during the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after purchasing an additional 385,808 shares during the period. Finally, Impax Asset Management Group plc grew its holdings in shares of Synopsys by 120.2% in the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after acquiring an additional 267,836 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SNPS shares. Piper Sandler decreased their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Loop Capital started coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Robert W. Baird decreased their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Finally, Rosenblatt Securities restated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and an average target price of $638.58.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction on Wednesday, January 15th. The stock was 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 owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on 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 sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Synopsys Trading Down 0.5 %

SNPS opened at $445.73 on Friday. The stock has a market cap of $68.92 billion, a price-to-earnings ratio of 30.70, a PEG ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a 1 year low of $429.77 and a 1 year high of $624.80. The stock has a fifty day moving average price of $502.01 and a 200 day moving average price of $513.09.

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.