Commerce Bank Has $4.90 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Commerce Bank increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,103 shares of the semiconductor company’s stock after purchasing an additional 74 shares during the period. Commerce Bank’s holdings in Synopsys were worth $4,904,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNPS. Norges Bank bought a new position in Synopsys during the fourth quarter worth about $583,608,000. Raymond James Financial Inc. bought a new position in shares of Synopsys during the 4th quarter worth approximately $199,065,000. Proficio Capital Partners LLC boosted its stake in Synopsys by 71,578.5% in the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after buying an additional 385,808 shares in the last quarter. Alecta Tjanstepension Omsesidigt bought a new stake in Synopsys in the fourth quarter valued at $104,741,000. Finally, Marshall Wace LLP raised its stake in Synopsys by 117.7% during the fourth quarter. Marshall Wace LLP now owns 390,000 shares of the semiconductor company’s stock worth $189,290,000 after acquiring an additional 210,888 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on SNPS. Bank of America lowered their target price on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Piper Sandler dropped their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Finally, KeyCorp reduced their price objective on Synopsys from $690.00 to $555.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and a consensus price target of $618.31.

Insider Transactions at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $413.32 on Friday. The company has a market capitalization of $63.91 billion, a price-to-earnings ratio of 28.47, a P/E/G ratio of 3.23 and a beta of 1.23. The firm’s 50 day simple moving average is $446.35 and its 200 day simple moving average is $495.10. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80.

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.