Daiwa Securities Group Inc. Sells 2,347 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Daiwa Securities Group Inc. reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,854 shares of the semiconductor company’s stock after selling 2,347 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Synopsys were worth $20,314,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Impax Asset Management Group plc grew its stake in shares of Synopsys by 120.2% in the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after acquiring an additional 267,836 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Synopsys in the third quarter worth about $1,138,000. Verdence Capital Advisors LLC raised its holdings in 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 buying an additional 139 shares during the last quarter. Assetmark Inc. raised its holdings in Synopsys by 4.3% in the 3rd quarter. Assetmark Inc. now owns 15,903 shares of the semiconductor company’s stock valued at $8,053,000 after buying an additional 650 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its holdings in Synopsys by 5.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,089 shares of the semiconductor company’s stock valued at $4,602,000 after buying an additional 464 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction 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 sale, the chief executive officer now directly 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 at this hyperlink. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following 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. Insiders have sold 47,909 shares of company stock valued at $22,794,835 in the last three months. 0.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Morgan Stanley lowered their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Piper Sandler reduced their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Robert W. Baird reduced their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Price Performance

SNPS opened at $429.85 on Tuesday. The company has a market capitalization of $66.46 billion, a price-to-earnings ratio of 29.60, a P/E/G ratio of 3.23 and a beta of 1.16. The firm’s fifty day moving average price is $500.07 and its two-hundred day moving average price is $510.83. Synopsys, Inc. has a 1 year low of $427.30 and a 1 year high of $624.80.

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.