CNB Bank Trims Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

CNB Bank trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 3.5% in the 4th quarter, HoldingsChannel reports. The firm owned 2,096 shares of the semiconductor company’s stock after selling 76 shares during the quarter. CNB Bank’s holdings in Synopsys were worth $1,017,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Hazlett Burt & Watson Inc. grew its holdings in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares during the period. Green Alpha Advisors LLC lifted its holdings in Synopsys by 1.7% in the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock valued at $655,000 after acquiring an additional 22 shares during the period. Aptus Capital Advisors LLC boosted its position in Synopsys by 1.5% in the third quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock worth $733,000 after purchasing an additional 22 shares during the last quarter. Resurgent Financial Advisors LLC grew its stake in shares of Synopsys by 2.8% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after purchasing an additional 22 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of Synopsys by 6.1% during the 3rd quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock valued at $202,000 after purchasing an additional 23 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were 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 in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Stock Up 1.8 %

Shares of Synopsys stock opened at $525.09 on Friday. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The stock’s 50-day simple moving average is $521.29 and its 200-day simple moving average is $527.29. The company has a market capitalization of $81.17 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 3.22 and a beta of 1.12.

Analysts Set New Price Targets

SNPS has been the topic of a number of research reports. Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday. They issued a “buy” rating and a $600.00 price objective on the stock. Mizuho assumed coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Wells Fargo & Company reduced their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday. Loop Capital assumed coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and set a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

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.