Swiss National Bank Has $210.65 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Swiss National Bank trimmed its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 434,000 shares of the semiconductor company’s stock after selling 20,800 shares during the quarter. Swiss National Bank owned approximately 0.28% of Synopsys worth $210,646,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SNPS. Peloton Wealth Strategists increased its holdings in shares of Synopsys by 221.2% during the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after buying an additional 1,984 shares in the last quarter. Parnassus Investments LLC bought a new position in Synopsys in the third quarter valued at about $633,469,000. Nordea Investment Management AB boosted its stake in shares of Synopsys by 15.9% during the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after purchasing an additional 143,284 shares in the last quarter. James Hambro & Partners LLP grew its holdings in shares of Synopsys by 30.9% during the fourth quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock worth $97,725,000 after purchasing an additional 47,527 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its stake in shares of Synopsys by 53.2% in the third quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company’s stock valued at $13,304,000 after buying an additional 9,124 shares during the period. Institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SNPS. Wells Fargo & Company cut their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Piper Sandler cut their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Morgan Stanley decreased their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Robert W. Baird cut their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Finally, 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 for the company. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’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 transaction, the executive now directly owns 1,460 shares in the company, 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 have sold 47,909 shares of company stock worth $22,794,835 in the last quarter. Company insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Synopsys stock opened at $428.58 on Friday. The stock has a market capitalization of $66.27 billion, a price-to-earnings ratio of 29.52, a PEG 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’s 50 day moving average price is $496.84 and its two-hundred day moving average price is $508.96.

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.