Accent Capital Management LLC Trims Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Accent Capital Management LLC reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,803 shares of the semiconductor company’s stock after selling 64 shares during the period. Accent Capital Management LLC’s holdings in Synopsys were worth $875,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SNPS. D.A. Davidson & CO. boosted its stake in shares of Synopsys by 13.9% during the third quarter. D.A. Davidson & CO. now owns 4,118 shares of the semiconductor company’s stock valued at $2,085,000 after purchasing an additional 502 shares during the period. Townsquare Capital LLC boosted its position in Synopsys by 9.8% in the 3rd quarter. Townsquare Capital LLC now owns 5,700 shares of the semiconductor company’s stock valued at $2,886,000 after buying an additional 508 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Synopsys by 150.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 35,434 shares of the semiconductor company’s stock worth $17,943,000 after acquiring an additional 21,304 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of Synopsys by 315.1% during the third quarter. CreativeOne Wealth LLC now owns 2,250 shares of the semiconductor company’s stock worth $1,139,000 after acquiring an additional 1,708 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Synopsys during the third quarter valued at approximately $11,441,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 1.9 %

NASDAQ:SNPS opened at $437.95 on Friday. The stock has a market capitalization of $67.72 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80. The firm has a 50 day moving average of $485.62 and a 200 day moving average of $505.27.

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction 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 transaction, the executive now directly 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. Over the last three months, insiders have sold 47,909 shares of company stock valued at $22,794,835. Corporate insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Morgan Stanley dropped their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Piper Sandler dropped their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Robert W. Baird cut their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Finally, Redburn Atlantic started coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Synopsys has a consensus rating of “Moderate Buy” and a consensus price target 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.