National Bank of Canada FI Sells 29,219 Shares of Synopsys, Inc. (NASDAQ:SNPS)

National Bank of Canada FI lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 26.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,561 shares of the semiconductor company’s stock after selling 29,219 shares during the period. National Bank of Canada FI’s holdings in Synopsys were worth $39,101,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SNPS. Kieckhefer Group LLC bought a new position in Synopsys during the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC acquired a new stake in Synopsys in the fourth quarter worth $33,000. Sierra Ocean LLC bought a new position in shares of Synopsys during the fourth quarter worth $39,000. Hazlett Burt & Watson Inc. increased its position in shares of Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 20 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Synopsys during the 4th quarter worth $51,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

Shares of SNPS stock opened at $438.55 on Thursday. Synopsys, Inc. has a 52-week low of $422.65 and a 52-week high of $624.80. The stock has a market cap of $67.81 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 3.23 and a beta of 1.16. The firm’s 50-day moving average is $479.67 and its 200-day moving average is $504.45.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Rosenblatt Securities reissued a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Robert W. Baird cut their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Finally, 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. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company’s 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated 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 sale, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock worth $22,794,835 over the last 90 days. Company insiders own 0.62% of the company’s stock.

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.