Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,703 shares of the semiconductor company’s stock after selling 2,873 shares during the period. Amalgamated Bank’s holdings in Synopsys were worth $15,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Parnassus Investments LLC acquired a new position in Synopsys in the third quarter valued at approximately $633,469,000. Edgewood Management LLC increased its holdings in Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after buying an additional 487,025 shares in the last quarter. Van ECK Associates Corp increased its holdings in Synopsys by 26.5% in 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 buying an additional 335,993 shares in the last quarter. Impax Asset Management Group plc raised its position in shares of Synopsys by 120.2% in the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after acquiring an additional 267,836 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after purchasing an additional 257,526 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Piper Sandler reduced their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Morgan Stanley decreased their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Robert W. Baird cut their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $639.58.

Synopsys Trading Down 2.6 %

NASDAQ:SNPS opened at $457.95 on Wednesday. Synopsys, Inc. has a twelve month low of $457.00 and a twelve month high of $624.80. The company has a market cap of $70.79 billion, a P/E ratio of 31.54, a P/E/G ratio of 3.23 and a beta of 1.12. The company’s 50-day moving average price is $508.09 and its 200-day moving average price is $516.89.

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.