Hancock Whitney Corp Has $1.46 Million Stock Position in Synopsys, Inc. $SNPS

Hancock Whitney Corp lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 61.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,410 shares of the semiconductor company’s stock after selling 5,464 shares during the period. Hancock Whitney Corp’s holdings in Synopsys were worth $1,462,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SNPS. Cornerstone Planning Group LLC grew its position in shares of Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. Saudi Central Bank acquired a new position in shares of Synopsys during the 1st quarter worth approximately $26,000. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Synopsys by 441.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 53 shares in the last quarter. Ameriflex Group Inc. acquired a new position in shares of Synopsys during the 4th quarter worth approximately $29,000. Finally, WPG Advisers LLC acquired a new position in shares of Synopsys during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SNPS shares. Piper Sandler increased their target price on shares of Synopsys from $615.00 to $660.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Needham & Company LLC restated a “buy” rating and set a $660.00 target price (up previously from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Rosenblatt Securities increased their target price on shares of Synopsys from $625.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Wells Fargo & Company restated a “positive” rating on shares of Synopsys in a research report on Wednesday, August 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $715.00 price target (up previously from $540.00) on shares of Synopsys in a report on Monday, August 11th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $638.21.

Synopsys Stock Performance

Shares of Synopsys stock opened at $598.14 on Friday. The company has a 50 day moving average of $594.11 and a 200-day moving average of $506.08. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The company has a market cap of $92.81 billion, a PE ratio of 43.19, a price-to-earnings-growth ratio of 3.96 and a beta of 1.14.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the transaction, the chief executive officer owned 71,615 shares of the company’s stock, valued at $42,181,951.15. This represents a 13.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the transaction, the executive directly owned 1,485 shares of the company’s stock, valued at approximately $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

Synopsys 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.