Clarius Group LLC Lowers Stake in Synopsys, Inc. (NASDAQ:SNPS)

Clarius Group LLC trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 620 shares of the semiconductor company’s stock after selling 48 shares during the quarter. Clarius Group LLC’s holdings in Synopsys were worth $301,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Parnassus Investments LLC acquired a new position in shares of Synopsys during the third quarter worth $633,469,000. Edgewood Management LLC lifted its stake in 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 purchasing an additional 487,025 shares during the last quarter. Van ECK Associates Corp increased its stake in Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after purchasing an additional 335,993 shares during the last quarter. Impax Asset Management Group plc raised its holdings 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 purchasing an additional 267,836 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Synopsys by 32.5% in the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after acquiring an additional 257,526 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SNPS shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. Piper Sandler dropped their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Berenberg Bank initiated coverage on Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Robert W. Baird cut 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. Finally, Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $641.82.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred 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 sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Synopsys Stock Up 2.1 %

NASDAQ:SNPS opened at $526.70 on Monday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The firm has a market cap of $81.42 billion, a P/E ratio of 36.27, a PEG ratio of 3.22 and a beta of 1.12. The business’s 50-day moving average price is $519.43 and its 200 day moving average price is $525.54.

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.