Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,221 shares of the semiconductor company’s stock after selling 213 shares during the period. CIBC Private Wealth Group LLC’s holdings in Synopsys were worth $2,119,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Caprock Group LLC lifted its holdings in shares of Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after purchasing an additional 20 shares during the period. Compagnie Lombard Odier SCmA boosted its holdings in shares of Synopsys by 1.1% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock valued at $898,000 after acquiring an additional 20 shares in the last quarter. Edge Capital Group LLC increased its stake in shares of Synopsys by 1.2% during the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock worth $791,000 after acquiring an additional 20 shares during the period. Barden Capital Management Inc. raised its holdings in Synopsys by 1.1% during the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock worth $889,000 after purchasing an additional 20 shares in the last quarter. Finally, Resurgent Financial Advisors LLC lifted its position in Synopsys by 2.8% in the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after purchasing an additional 22 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNPS. Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Morgan Stanley cut 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 decreased their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company dropped their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Stock Performance

NASDAQ SNPS opened at $438.55 on Thursday. The firm has a market capitalization of $67.81 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a one year low of $422.65 and a one year high of $624.80. The company’s 50 day moving average price is $479.67 and its 200 day moving average price is $504.45.

Insider Transactions 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 stock was 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 owns 1,460 shares of the company’s stock, valued at $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 available at this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were 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 approximately $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 47,909 shares of company stock valued at $22,794,835 over the last 90 days. Corporate insiders own 0.62% of the company’s stock.

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.