Synopsys, Inc. (NASDAQ:SNPS) Position Decreased by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp reduced its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 0.4% during the fourth quarter, Holdings Channel reports. The firm owned 5,712 shares of the semiconductor company’s stock after selling 25 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Synopsys were worth $2,772,000 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. Kieckhefer Group LLC bought a new position in shares of Synopsys in the fourth quarter valued at $27,000. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys during the fourth quarter valued at $33,000. Sierra Ocean LLC acquired a new position in shares of Synopsys in the 4th quarter valued at $39,000. Newbridge Financial Services Group Inc. purchased a new position in Synopsys in the 4th quarter worth about $51,000. Finally, Versant Capital Management Inc raised its holdings in Synopsys by 109.3% during the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after buying an additional 59 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Redburn Atlantic started coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Piper Sandler reduced their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. 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 report on Thursday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Stock Down 0.1 %

SNPS stock opened at $457.23 on Wednesday. The company has a market capitalization of $70.70 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 3.23 and a beta of 1.16. The firm has a 50 day moving average of $489.94 and a two-hundred day moving average of $506.26. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80.

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % 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 valued at $22,794,835 over the last three months. 0.62% of the stock is currently owned by 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.