Dorsey & Whitney Trust CO LLC Raises Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Dorsey & Whitney Trust CO LLC lifted its position in Synopsys, Inc. (NASDAQ:SNPS) by 31.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,266 shares of the semiconductor company’s stock after buying an additional 302 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Synopsys were worth $614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Peloton Wealth Strategists boosted its stake in shares of Synopsys by 221.2% in the 3rd 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 during the last quarter. Swiss National Bank boosted its stake in shares of Synopsys by 0.7% in the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after buying an additional 3,200 shares during the last quarter. Parnassus Investments LLC purchased a new position in shares of Synopsys in the 3rd quarter worth $633,469,000. Nordea Investment Management AB boosted its stake in shares of Synopsys by 15.9% in the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after buying an additional 143,284 shares during the last quarter. Finally, James Hambro & Partners LLP lifted its position in Synopsys by 30.9% during the fourth quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock valued at $97,725,000 after purchasing an additional 47,527 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Up 1.2 %

SNPS stock opened at $450.88 on Monday. Synopsys, Inc. has a twelve month low of $429.77 and a twelve month high of $624.80. The stock has a market capitalization of $69.72 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The firm’s fifty day simple moving average is $501.21 and its two-hundred day simple moving average is $511.66.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated 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 transaction, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SNPS. Robert W. Baird lowered their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Morgan Stanley dropped their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Finally, Piper Sandler reduced their price target 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. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Company 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.