GAM Holding AG lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS – Get Rating) by 35.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,431 shares of the semiconductor company's stock after selling 3,018 shares during the quarter. GAM Holding AG's holdings in Synopsys were worth $1,734,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNPS. Stiles Financial Services Inc boosted its stake in shares of Synopsys by 0.7% in the 4th quarter. Stiles Financial Services Inc now owns 4,129 shares of the semiconductor company's stock worth $1,318,000 after buying an additional 30 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in Synopsys by 3.2% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,122 shares of the semiconductor company's stock worth $343,000 after purchasing an additional 35 shares during the last quarter. Cadence Bank grew its stake in shares of Synopsys by 1.2% during the 3rd quarter. Cadence Bank now owns 3,036 shares of the semiconductor company's stock valued at $928,000 after purchasing an additional 35 shares during the period. Twin Capital Management Inc. increased its position in shares of Synopsys by 1.4% during the 4th quarter. Twin Capital Management Inc. now owns 2,647 shares of the semiconductor company's stock valued at $845,000 after purchasing an additional 36 shares during the last quarter. Finally, Covenant Asset Management LLC lifted its stake in shares of Synopsys by 0.3% in the 4th quarter. Covenant Asset Management LLC now owns 12,347 shares of the semiconductor company's stock worth $3,942,000 after purchasing an additional 40 shares during the period. 84.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Needham & Company LLC boosted their price objective on Synopsys from $420.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, February 16th. Wells Fargo & Company raised their price objective on Synopsys from $400.00 to $410.00 and gave the company an "overweight" rating in a research report on Thursday, February 16th. Rosenblatt Securities reiterated a "buy" rating and issued a $420.00 target price on shares of Synopsys in a research report on Tuesday, February 14th. StockNews.com initiated coverage on Synopsys in a report on Thursday, March 16th. They set a "buy" rating for the company. Finally, Atlantic Securities initiated coverage on Synopsys in a report on Tuesday, January 17th. They set an "overweight" rating on the stock. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Synopsys currently has an average rating of "Moderate Buy" and an average price target of $424.18.

Insider Activity

In related news, CAO Sudhindra Kankanwadi sold 4,000 shares of the business's stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $361.08, for a total transaction of $1,444,320.00. Following the completion of the transaction, the chief accounting officer now owns 16,723 shares in the company, valued at approximately $6,038,340.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Synopsys news, insider John F. Runkel, Jr. sold 3,464 shares of the firm's stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $353.91, for a total transaction of $1,225,944.24. Following the completion of the transaction, the insider now directly owns 25,112 shares of the company's stock, valued at approximately $8,887,387.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sudhindra Kankanwadi sold 4,000 shares of the company's stock in a transaction on Friday, February 24th. The shares were sold at an average price of $361.08, for a total transaction of $1,444,320.00. Following the completion of the sale, the chief accounting officer now directly owns 16,723 shares in the company, valued at $6,038,340.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,464 shares of company stock worth $4,235,984. Corporate insiders own 0.69% of the company's stock.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $378.77 on Thursday. The business has a 50 day simple moving average of $370.41 and a two-hundred day simple moving average of $338.98. Synopsys, Inc. has a 1 year low of $255.02 and a 1 year high of $392.79. The firm has a market capitalization of $57.69 billion, a PE ratio of 62.50, a price-to-earnings-growth ratio of 3.37 and a beta of 1.18.

Synopsys (NASDAQ:SNPS – Get Rating) last posted its earnings results on Wednesday, February 15th. The semiconductor company reported $2.62 EPS for the quarter, beating analysts' consensus estimates of $2.50 by $0.12. Synopsys had a net margin of 18.22% and a return on equity of 16.88%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm posted $1.78 EPS. The company's revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts expect that Synopsys, Inc. will post 7.2 EPS for the current fiscal year.

About Synopsys

(Get Rating)

Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.

Featured Stories

• Get a free copy of the StockNews.com research report on Synopsys (SNPS)
• Intuitive Surgical Carves A Bottom And Preps For Higher Prices
• Baker Hughes Is A High-Yield Play On Electrification
• Johnson & Johnson Earnings Mix Some Good with Some Concerns
• Is Bank of America a Good Stock to Buy?
• ASML Reports Massive Growth, Management Points To Sluggish 2023

Want to see what other hedge funds are holding SNPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synopsys, Inc. (NASDAQ:SNPS – Get Rating).

Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.