Gulf International Bank UK Ltd Sells 129 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Gulf International Bank UK Ltd reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 11,913 shares of the semiconductor company’s stock after selling 129 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Synopsys were worth $5,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SNPS. State Street Corp grew its position in Synopsys by 1.7% during the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after buying an additional 119,057 shares during the period. Geode Capital Management LLC boosted its stake in shares of Synopsys by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after acquiring an additional 61,799 shares during the last quarter. Edgewood Management LLC grew its position in shares of Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after acquiring an additional 487,025 shares during the period. Van ECK Associates Corp grew its position in shares of Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after acquiring an additional 335,993 shares during the period. Finally, Parnassus Investments LLC bought a new position in Synopsys in the 3rd quarter worth $633,469,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 3.3 %

Shares of Synopsys stock opened at $454.71 on Friday. The firm has a market cap of $70.29 billion, a PE ratio of 31.32, a PEG ratio of 3.23 and a beta of 1.12. The stock has a 50 day moving average of $506.84 and a 200 day moving average of $516.13. Synopsys, Inc. has a 12 month low of $454.05 and a 12 month high of $624.80.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction 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 sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SNPS. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Wells Fargo & Company reduced their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday. Piper Sandler lowered 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Synopsys has a consensus rating of “Moderate Buy” and a consensus target price 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.