Nicholas Investment Partners LP Lowers Position in Synopsys, Inc. (NASDAQ:SNPS)

Nicholas Investment Partners LP trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.6% in the fourth quarter, Holdings Channel reports. The firm owned 14,549 shares of the semiconductor company’s stock after selling 700 shares during the period. Nicholas Investment Partners LP’s holdings in Synopsys were worth $7,062,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Synopsys by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock worth $7,029,360,000 after purchasing an additional 120,575 shares during the last quarter. Capital World Investors increased its stake in shares of Synopsys by 1.6% during the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company’s stock valued at $3,533,526,000 after acquiring an additional 114,893 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Synopsys by 21.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock valued at $2,864,933,000 after buying an additional 1,045,326 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock worth $1,625,230,000 after purchasing an additional 75,298 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Synopsys by 26.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock worth $916,441,000 after acquiring an additional 391,681 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Rosenblatt Securities restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Wells Fargo & Company lowered their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Mizuho reduced their price objective on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Finally, Piper Sandler cut their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $613.43.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $515.71 on Wednesday. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The stock has a market cap of $79.74 billion, a P/E ratio of 35.52, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The firm has a 50 day moving average price of $439.73 and a two-hundred day moving average price of $489.24.

Insider Transactions at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of the firm’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 transaction, the insider now owns 116,671 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the company’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 directly owns 70,922 shares of the company’s stock, valued at approximately $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. 0.62% of the stock is currently owned by corporate insiders.

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.