NBT Bank N A NY Raises Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

NBT Bank N A NY lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 285 shares of the semiconductor company’s stock after buying an additional 39 shares during the quarter. NBT Bank N A NY’s holdings in Synopsys were worth $138,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SNPS. Parnassus Investments LLC acquired a new position in shares of Synopsys during the third quarter worth about $633,469,000. Edgewood Management LLC grew its position in shares of Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after buying an additional 487,025 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Synopsys during the fourth quarter worth about $199,065,000. Proficio Capital Partners LLC grew its position in shares of Synopsys by 71,578.5% during the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock worth $187,517,000 after buying an additional 385,808 shares in the last quarter. Finally, Impax Asset Management Group plc grew its position in shares of Synopsys by 120.2% during the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after buying an additional 267,836 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was 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 of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by company insiders.

Synopsys Trading Up 0.2 %

SNPS stock opened at $430.68 on Wednesday. The company has a market capitalization of $66.59 billion, a P/E ratio of 29.66, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a twelve month low of $427.30 and a twelve month high of $624.80. The business has a 50 day simple moving average of $498.98 and a 200-day simple moving average of $510.06.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SNPS shares. Rosenblatt Securities reissued a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Wells Fargo & Company lowered their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Robert W. Baird lowered their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Finally, Piper Sandler lowered their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.