Synopsys, Inc. (NASDAQ:SNPS) Stake Reduced by Front Row Advisors LLC

Front Row Advisors LLC trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 9,672 shares of the semiconductor company’s stock after selling 49 shares during the quarter. Synopsys comprises approximately 1.6% of Front Row Advisors LLC’s holdings, making the stock its 10th largest holding. Front Row Advisors LLC’s holdings in Synopsys were worth $4,694,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after buying an additional 120,575 shares in the last quarter. State Street Corp increased its stake in shares of Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after purchasing an additional 119,057 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 period. Pictet Asset Management Holding SA boosted its position in Synopsys by 3.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,758,759 shares of the semiconductor company’s stock worth $853,631,000 after purchasing an additional 60,121 shares in the last quarter. Finally, Norges Bank acquired a new stake in Synopsys in the fourth quarter valued at approximately $583,608,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Price Performance

SNPS stock opened at $428.85 on Tuesday. Synopsys, Inc. has a 1 year low of $423.08 and a 1 year high of $624.80. The firm has a market capitalization of $66.31 billion, a PE ratio of 29.54, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The business has a 50 day simple moving average of $483.67 and a 200-day simple moving average of $505.29.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wells Fargo & Company reduced their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Morgan Stanley decreased their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Piper Sandler dropped their target price 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. 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 report on Thursday, December 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. 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 corporate insiders.

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.