Synopsys, Inc. (NASDAQ:SNPS) Stock Position Decreased by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 46.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,322 shares of the semiconductor company’s stock after selling 2,895 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Synopsys were worth $1,612,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Kieckhefer Group LLC acquired a new position in Synopsys during the 4th quarter valued at about $27,000. Whipplewood Advisors LLC acquired a new position in Synopsys during the 4th quarter valued at about $33,000. Sierra Ocean LLC acquired a new position in Synopsys during the 4th quarter valued at about $39,000. Newbridge Financial Services Group Inc. acquired a new position in Synopsys during the 4th quarter valued at about $51,000. Finally, Versant Capital Management Inc boosted its stake in Synopsys by 109.3% during the 4th 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 during the period. Institutional investors own 85.47% of the company’s stock.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $5,270,982.50. Following the sale, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % 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. 0.62% of the stock is owned by company insiders.

Synopsys Price Performance

NASDAQ SNPS opened at $448.60 on Friday. The company’s 50 day simple moving average is $491.19 and its 200 day simple moving average is $506.23. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80. The company has a market capitalization of $69.36 billion, a P/E ratio of 30.90, a PEG ratio of 3.23 and a beta of 1.16.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Piper Sandler reduced their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Robert W. Baird reduced their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

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.