Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Reduced by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 12.9% in the fourth quarter, Holdings Channel reports. The firm owned 2,533 shares of the semiconductor company’s stock after selling 375 shares during the period. Frank Rimerman Advisors LLC’s holdings in Synopsys were worth $1,229,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. State Street Corp increased its holdings in Synopsys by 1.7% in the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after buying an additional 119,057 shares during the last quarter. Geode Capital Management LLC increased 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 purchasing an additional 61,799 shares during the last quarter. Edgewood Management LLC raised its holdings 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 purchasing an additional 487,025 shares in the last quarter. Parnassus Investments LLC bought a new position in shares of Synopsys during the 3rd quarter valued at $633,469,000. Finally, Janus Henderson Group PLC lifted its stake in shares of Synopsys by 7.7% in the 3rd quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company’s stock valued at $577,289,000 after purchasing an additional 81,198 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on SNPS. Morgan Stanley cut their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. 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 report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Piper Sandler decreased their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction 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. The trade was a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction 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 completion of 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 disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock worth $22,794,835 over the last three months. Company insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS opened at $446.23 on Friday. The company has a 50-day simple moving average of $495.89 and a 200-day simple moving average of $508.31. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80. The firm has a market capitalization of $69.00 billion, a P/E ratio of 30.73, a P/E/G ratio of 3.23 and a beta of 1.16.

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.