Parallel Advisors LLC Has $3.46 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Parallel Advisors LLC reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,123 shares of the semiconductor company’s stock after selling 243 shares during the quarter. Parallel Advisors LLC’s holdings in Synopsys were worth $3,458,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Peloton Wealth Strategists increased its holdings in shares of Synopsys by 221.2% during the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after acquiring an additional 1,984 shares in the last quarter. Swiss National Bank grew its holdings in Synopsys by 0.7% during the third 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 in the last quarter. Parnassus Investments LLC bought a new position in Synopsys in the 3rd quarter valued at $633,469,000. Nordea Investment Management AB grew its stake in Synopsys by 15.9% in the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after purchasing an additional 143,284 shares during the period. Finally, James Hambro & Partners LLP grew its stake in Synopsys by 30.9% in the 4th 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 during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SNPS shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Robert W. Baird decreased their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Piper Sandler reduced their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley reduced their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business’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 transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,909 shares of company stock worth $22,794,835. Insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS opened at $453.51 on Tuesday. The stock has a 50-day moving average of $494.94 and a two-hundred day moving average of $507.85. Synopsys, Inc. has a one year low of $425.73 and a one year high of $624.80. The stock has a market cap of $70.12 billion, a P/E ratio of 31.23, a P/E/G ratio of 3.23 and a beta of 1.16.

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.