Synopsys, Inc. (NASDAQ:SNPS) Stake Cut by Great Lakes Advisors LLC

Great Lakes Advisors LLC cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 21.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,070 shares of the semiconductor company’s stock after selling 582 shares during the quarter. Great Lakes Advisors LLC’s holdings in Synopsys were worth $1,005,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SNPS. Kieckhefer Group LLC bought a new stake in Synopsys in the fourth quarter valued at $27,000. Whipplewood Advisors LLC bought a new stake in shares of Synopsys during the fourth quarter valued at about $33,000. Sierra Ocean LLC bought a new stake in shares of Synopsys during the fourth quarter valued at about $39,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Synopsys during the fourth quarter valued at about $51,000. Finally, Versant Capital Management Inc raised its stake in shares of Synopsys by 109.3% during the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 59 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Price Performance

Shares of Synopsys stock opened at $446.23 on Friday. The firm has a market cap of $69.00 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52-week low of $425.73 and a 52-week high of $624.80. The stock has a 50-day simple moving average of $495.89 and a 200-day simple moving average of $508.31.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Morgan Stanley dropped their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Wells Fargo & Company dropped their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Finally, Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and an average target price of $638.58.

Insider Activity

In related news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on 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 approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock worth $22,794,835 in the last three months. 0.62% of the stock is owned by insiders.

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.